Imitator:

I was just watching Colbert Report, an old one, that had a paleantologists(sp) on there, who had discovered a fossil from 375 million years ago, that was a link between fishes and the first land creatures. It had parts of a land creature in it, and still parts of a fish, and was believed to live in shallow water and ventured onto land occasionally.

It was called Tiktaalik, and here is a link to a transcript of a Nature documentary on its discovery.

: Nature

I think thats a pretty good example of evolution in action right there.
I've read several atricles on this now.

This is a fish that is supposed to be a missing link between fish and tetrapods. First off, it's not even complete. Scientists as of yet unable to determine what the hind fins and tail might have looked like. A picture of it is here:

http://www.icr.org/i/articles/news/tiktaalik_roseae.jpg

And from that they conclude that he could walk like a normal land creature.

In his description of this fossil, evolutionist Shubin states the front fins look basically ??like a scale-covered arm? with ??bones that correspond to a shoulder, upper arm, elbow, forearm and a primitive version of a wrist? (AP 2006)...

One should note that the bones in Tiktaalik??s fins have no axial skeleton connections. This is significant because without this direct connection, no true walking could be done by Tiktaalik. Furthermore, the fins of this creature enclose rays, not digits such as toes or fingers..
The hind limbs in particular have a robust pelvic girdle securely attached to the vertebral column. This differs radically from that of any fish including Tiktaalik. Essentially all fish (including Tiktaalik) have small pelvic fins relative to their pectoral fins. The legs of tetrapods are just the opposite: the hind limbs attached to the pelvic girdle are almost always more robust than the fore limbs attached to the pectoral girdle.

Finally, no fish (including Tiktaalik) has true finger or toe bones. Instead, fish have slender bony fin rays, which even evolutionists concede are not homologous or related in any way to digits. While fin rays are ideal for swimming in water, they are unsuited to bear weight on land and thus permit only a slithering and belly-dragging mode of locomotion on land (in certain living species) that can be described as ??walking? in only the most trivial sense of the word.
The media gives the impression that this is something new but it's really not. There are more than a few fish than can breathe air and slide around on thier bellies for long distances with help of pectoral fins. The northern snakehead and walking catfish are air breathing fish that can travel for some notable distances. MUdskippers can breathe air through thier skin and can skip along with thier fins. The climbing perch breathes air and walks on land and can even climb trees. The flying fish can glide hundreds of yards over water. There are other examples also.

None of these though are considered to be anscestors of tetropods by evolutionists, they're just special fish. It's important to understand that fish come in lots of forms that defy consistant classification. There are different classifications depending on the bias of the classifier.

Evolutionists are not sure whether lungs came first before gills or vice verca .They're not sure whether cartaligious or bony fish came first either.

These sensational claims appear every now and then, and then soon faid away into obscurity when the evidence is more closely examined.

One thing is for sure, it's a fish.

more can be read about it here:

Tiktaalik and the fishy story of walking fish, part 2 - Answers in Genesis