No not Adam West (although an Adam West/Batman action figure is thirty years over due.)
I'm talking about the "First Appearance" Batman figure from DC Direct.
This figure represents Batman as he was drawn in Detective Comics #27 - Batman's first appearance.
There are very distinct design cues (ie his ears on the side of his head) that only lasted a couple issues. Like a grey Hulk or a diamond shield wielding Captain America, this Batman "rough draft" is a great toy and a great glimpse at the past.