I am very surprised to find that the U1 client only shows me "File Sync in Progress".

I can see the current transfers and files still to be transferred (in an uninformative flat list) with

u1sdtool --current-transfers

and

u1sdtool --waiting

But neither of these give a % completed or time estimate based on current transfer speed. I seem to recall that this feature existed in much earlier version of the U1 client.