I wrote a piece a while back on insect evolution. Today, a new study has been reported on which shows 2.5 meter Eurypterids existed during the Devonian period. This shows that giant ancestors of modern land insects still existed in the sea long after other insects had already taken to land.
If you're a fan of invertebrates, check out the 8th edition of the Circus of the Spineless I hosted in April '06.