Most of all I would never display seconds (only hours and minutes). I think it's really frustrating when you sit there and wait for a minute while the timer jumps between 10 and 20 seconds. And always display real information like: xxx/yyyy MB copied.
I would also include something like this:
if timeLeft > 5h --> Inform user that this might not work properly if timeLeft > 10h --> Inform user that there might be better ways to move the file if timeLeft > 24h --> Abort and check for problems
I would also inform the user if the estimated time varies too much
And if it's not too complicated, there should be an auto-check function that checks if the process is still alive and working properly every 1-10 minutes (depending on the application).