It looks like you are using one of the on-line databases for ripping your CDs. You are in for a lot of manual editing.
If you can I would recommend you set your ripping program to use something like a | for separating the artist and track name rather than a - which will occur in lots of track names.
For the example you have quoted try something like:
Dim Track As String = "D:\Music\Video\2008-1\Lonely Island, The Ft. TPain-I'm On A Boat.mpg"
Dim TrackTitle As String = IO.Path.GetFileNameWithoutExtension(Track)
Dim Elements() As String = TrackTitle.Split("-"c)
MsgBox(Elements(0))
MsgBox(Elements(1))