It's coelacanth. With an "a". It is related to the ancestors of land vertebrates, the extinct suborder Rhipidistia. Is it considered by some to be an intermediary species? Yes.

I've GOT to correct this, now that I have paid more attention to the answers presented. No. Or at least, not by any relevantly-qualified scientist. What they ARE considered to be (and have been, since found) is the sole remaining representative of a sub-group of the lobe-finned lineage known as crossopterygians. Lobe-finned fishes (class Actinistia) first appeared in the fossil record in the early Devonian, a few million years after the appearance of the ray-finned bony fishes, and they flourished throughout that period until 65 million years ago, the time of the extinction of the dinosaurs. The ray-fins introduced the first adaptation which enabled the eventual invasion of the land -- swim bladders which could function as lungs when the oxygen level in the water was low, or in an emergency, if they had to, temporarily throwing themselves out of the water to avoid being eaten by a predator, as some of them still do today. However, with unjointed fins which would not have functioned terribly well or strongly out of water, all they would have been able to do was flop around. The lobe-fins split from the ray-fins with a change in the bones of the fin, which both strengthened the fins and gave them a primitive "joint". This gave the fish both strength and control. The first lobe-fins appeared in estuarial waters; relatively shallow, muddy, and diluted salt, if estuaries today are anything to go by (and there is no reason why estuaries 200 million years ago would be any different). Throughout the Devonian, lobe-fins radiated in all directions, speciating as they went. And significantly, the two different directions they went were (a) toward the deep waters, and (b) into fresh water and towards the land. The branch of the lobe fins that went into the deep marine waters was still considered Actinistia, order Crossopterygii. The branch that headed toward land underwent further modifications and were eventually deemed sufficiently different to warrent designation as class Sarcopterygii. In the late Devonian, Sarcopterygii split into two different lineages itself -- one which became subclass Dipnoi, the lungfishes, and on another branch the two subclasses Amphibia and Tetrapoda (amphibians, and the line which led to reptiles, birds, dinosaurs, and mammals). Their primary radiation over, many lobe-fins disappeared at the end of the Devonian, although some continued to flourish until the K/T Boundary (the extinction event that wiped out the dinosaurs and much else, 65 million years ago). After that extinction event, it was thought that *all* the marine lobe-fins of order Crossopterygii had disappeared, until a specimen of Latimeria chalumnae was caught in the deep waters off Madagascar in 1938, and a different species -- Latimeria menadoensis -- was caught off Sulawesi in 1998. These marine lobe-fins were never in the direct ancestral line which led to Amphibia and Tetrapoda, as outlined above -- but they are somewhat closer in form to the original class Actinistia, order Crossopterygii spp. which *were*, and were thus considered a prize that we could learn from. It is not a simple lineage, but I hope that makes more sense to you. [It may also help to remember the taxonomic structure: Kingdom -- Phylum -- (Subphylum) -- Class -- (Subclass) -- (Infraclass/Superorder) -- Order -- (Suborder) -- Family -- Subfamily -- Genus -- species.]