After long time I try to install Joomla and it is Joomla 3.3.0 and face a problem as like you. All things are ok but its taking too much time during database table creation. And here is the solution
To solve this go to
Your joomla folder\installation\sql\mysql and open Joomla.sql file find the term
and replace ALL with
MyIsam is more supported and compatible with Joomla.
Do also the same with (sample_data.sql) file, if it’s quickstart setup.