If ctrl+c doesn't respond right away because your script is too long/complex, hold it.
The break command doesn't run when matlab is executing some of its deeper scripts, and either it won't log a ctrl sequence in the buffer, or it clears the buffer just before or just after it completes those pieces of code. In either case, when matlab returns to execute more of your script, it will recognize that you are holding ctrl+c and terminate.
For longer running programs, I usually try to find a good place to provide a status update and I always accompany that with some measure of time using tic and toc. Depending on what I am doing, I might use run time, segment time, some kind of average, etc...
For really long running programs, I found this to be exceptionally useful
http://www.mathworks.com/matlabcentral/fileexchange/16649-send-text-message-to-cell-phone/content/send_text_message.m
but it looks like they have some newer functions for this too.