V_V comments on A quick sketch on how the Curry-Howard Isomorphism kinda appears to connect Algorithmic Information Theory with ordinal logics - Less Wrong
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Busy beavers seem not to halt for a very long time and spend most of their time in a seemingly infinitely-growing recursion, and then they halt.
You could argue that busy beavers are pathological examples of little practical interest, but then many programs that perform useful computation may run for a very long time without entering easily identifiable "loops" before they halt.
Unless you designed the program yourself and have a good understanding of what it is doing, and sometimes even if you designed the program yourself, proving termination may not be trivial.
If it was a trivial problem it wouldn't be worth tackling.
My point is that the observation that a program has been running for a long time and doesn't have simple "while(true) {...}" loops doesn't give us much information about its termination.
But I'm not sure what you are aiming at.
For most practical purposes, a program that takes a very long time before producing a result is as good as a program that will never produce a result. Termination is important in theoretical computer science as the prototypical undecidable property used to prove other non-existence results, but if you are concerned about specific programs that you plan to actually run on physical machines, why are you interested in termination?