I am new to building custom ArcObjects, and am looking for a custom python script for arcgis version 10 that will loop through a point shapefile to find the nearest line segment of a line shapefile (or multiple if possible) and add the 'NAME' attribute from the line shapefile to a new 'STREET' attribute in the point shapefile.
You should use the Near command. It will create a Near_FID field which is the FID of the nearest Line Feature. Just join on this and you should be able to Calc your points with the closest Line Name. Should be a short script.
You could use IProximityOperator::QueryNearestPoint and construct a line from the point returned and the point in your feature class.