Monterey on 27" iMac Mid-2011... stuck in infinite boot loop

Can anyone help? I haven't upgraded my iMac, it's a 1TB SATA HD with 8GB memory.

It was previously running with High Sierra and I was getting frustrated with Homebrew no longer working very well at all. I downloaded and patched Monterey, installed it to a USB with OpenCore, everything seemed to work fine.

I agree to the licence, select the destination hard drive, and then it copies files for about 30 minutes and reboots. Screen goes bright white for several minutes and then shows the EFI Boot screen with the "Install macOS Monterey (no drive)" and "macOS Installer (Drive)" options - chooses the latter automatically, and I get a white apple logo on a black screen with a progress bar, another 29 minutes. So this is all fine and unique so far, progress seems to be made.

It spends a long time with "Less than a minute remaining..." but I understand this is due to crypto stuff at the end of the install, on machines that lack crypto acceleration.

Eventually it reboots to a bright white screen again - shows the EFI Boot which auto-chooses "macOS Installer" on the drive - and I get a white apple on black screen. Progress bar gets 1/4 of the way across when it reboots :(

Now I'm in an infinite loop.

What are my options?

Spacebar at the boot menu gives "Recovery (dmg)", "BootKicker.efi", "OpenShell.efi" and "Reset NVRAM". None of which I know what to do with - is there any way I can use this to continue or at least find out what the problem is?

I've done a lot of googling about this and am just about giving up. I'm copying files off my second partition onto a spare hard drive over USB 1.1 using Terminal in the install software. Would love some clues as to what to try when that finishes in a few days. I already tried installing a patched Big Sur also.

If I can get this working I will upgrade the RAM and swap the HD for an SSD. I'm not bothered about upgrading the graphics card as I mostly use it headless.

Author: @Magnofficial