*cracks knuckles*
It's been a year since my last course of special relativity, but I'll try to answer it as best as I can.
The velocity of light (c = 3 * 10^8 m/sec) is constant in all reference frames, no matter their velocity. It extends from Maxwell's equations (lots of differential wave equations that I don't care to prove right now

), but basically the propogation of light depends only on the constants involved in electricity and magnetism, and not the velocity of the light's source or observer.
With the senario you're describing (light moves towards earth at velocity c, being moves away from sun at velocity .5c), after six months, from the perspective of a stationary observer in the rest frame, the being and the light are .75 light years away from each other like you described...simple enough.
The hard part is describing the distant as observed by the being moving at .5c. The being observes the light moving away from him at c, not c + .5c = 1.5c. Space gets contracted and time gets dialated by a factor gamma = 1/(1 - v^2/c^2)^.5, so at v = .5c, gamma = 1.15.
So after six months (from the perspective of the being), the being will think the photon is half a light-year away, not 3/4 of a light year. But six months from the perspective of the being is nearly 7 months from the perspective of the stationary observer. So after six months of "lab-frame time" from the perspective of the stationary observer, 6/1.15 = 5.2 months have passed as observed by the being, so the being thinks the photon is .43 light years away instead of .75 light years away. This is explained by the contraction of space; the being and the stationary observer observe the photon to be at the same location relative to the earth and the sun, but the being thinks that the distance between the earth and the sun has contracted.
I hope this explains it.
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That's pretty disconcerting, though, to think that all the work done in physics is only useful to the point that objects, other than light, stay in a relatively slow state of motion. >>
That couldn't be more wrong...Special relativity explains mechanics at near c beautifully (at least on a macroscopic scale), and is very useful for energy and momentum in particle physics...it's actually quite easy to understand with algebra...they teach this stuff in the first or second year of undergraduate physics.