I would like the shipping to show as free when a specific product is in the cart. But when any other item is added or is on its own I want the normal shipping rate to be applied. How would I go about achieving this scenario?
Firstly you will need to follow the steps within this article on how to create a free coupon code
The way you would achieve this is by creating a Shopping Cart Price rule within Magento. When creating the rule you will need to leave the coupon code blank, and the ship discount to zero. Here are a series of screenshots to show how this coupon code should look:
Rule information tab:
Once you have created this rule, you will need to choose a delivery method to be shown as the free method at the cart and checkout process. Here is a screenshot to show this panel: