I've found it!

I can't believe it guys but I've found it. The actual species of the Blue Mountain Butt-Ugly Bug. I'm 99% sure this is it, but I need some confirmation from you guys, because its been quite a while since any of us has seen it. As larve (babies) they are know as "Hellgrammite" but as adults they are commonly known as a "Dobsonfly" and man they are ugly & big & ugly all over again. Big as in they can get up to around 5" and thats just too big for something that ugly.

No wonder we see so little of these bugs, most of thier life they are Hellgrammites, as adults they only emerge for a few days to mate before they die. They live by bodies of water, only the males really look like what we would be looking for & on top of all that, they are nocturnal! Good luck ever seeing another one.

Pictures of Hellgrammites:
http://www.whatsthatbug.com/hell.html

A page full of pictures of dobsonflies:
http://whatsthatbug.com/dobs.html

The Wiki page:
http://en.wikipedia.org/wiki/Dobsonfly

Here's a few dobsonflies: