I did the same thing and discovered that I takes too long to complete the update process because it was a very old version of McAfee (2007), so it first updates to 2008 version and finally to 2009's. So be patient because if you try to restart the whole OS it will tell you that it can not be done because there is an update in progress, that you have to wait... In my case it took me 2 reboots to get the latest version of McAfee Security Center (9.15.160) and VirusScan (13.15.113) installed.
Ok, so here is what I tried. Tried to run the McAfee removal tool, got a pop-up message that it was already running. Not good. Tried to remove whatever pieces of Total Protection that had been installed using Add/Remove Programs. No joy there, simply got a blank Securoty Center box that popped up and did nothing. Finally booted up in Safe Mode and was able to use the removal tool although it gave a warning that it could not remove everything. After that was completed, I went in and deleted every folder that had McAfee in its name. Tried downloading and running the program before I went to bed last night at 10:00 PM. Checked it at 4:30 AM this morning and no joy. The installation had frozen once again. I rebooted in Safe Mode and once again removed whatever pieces of TP had been installed (once again with the warning) and deleted any folders that had McAfee in its name. So there my computer sits. It is currently turned off and unless someone is nice enough to help me figure this out, when I get home this afternoon, I will be installing a competitor's product which I REALLY do not want to do.
Tried running the pre-installer this afternoon before taking one last shot at this. Sadly the installation hung in the same place as every other time, approximately 2/3 of the way through. Now I have to go through the hassle of booting in Safe Mode in order to get rid of it AGAIN because for some reason my computer thinks that the removal tool is running even though it's not. No answer from anyone.
Just because I really didn't want to go through the hassle of another uninstall, I tried the Live Chat help. Can't say enough about the rep who helped me. Five minute (at most) wait time and 20 minutes later my Total Protection 2010 has successfully installed. Apparently the problem is some of the processes running on my computer were slowing/stalling my installation. Something for others to be aware of should they see this thread. Thanks again to the rep who helped me out.