Hi John,
By any chance are you using Google Chrome when you get this timeout while importing? This is a known bug for Method in Chrome, sometimes, when you do an import, the progress bar won't budge, however if you wait long enough, the records do get imported, this sounds like what you are describing.
Our development team is working on this, however a simple workaround would be attempt using another browser to do your importing, like Firefox, or Internet Explorer. Also, this is an issue with Feb. and Oct. releases, however it can be intermittent.
-Ben