Well, within Access itself it is fairly easy. Use the import wizard to import the text file and set it up how you want it then just before you click Finish click on the Advanced button (all within the wizard) and then click save. Now you have a saved improt specification within Accses that you can reference with the TransferText command (just look in Access help for syntax for TransferText as it makes more sense then just posting a line of code here).

However in VB, I'm not sure if you can access the built in specifications without using automation (or is it all called COM now?) to open up Access in the background and do the import. I did find a link though on Microsoft's site that you may or may not find interesting.

http://support.microsoft.com/default.aspx?scid=kb;EN-US;q113905