Lerman has constructed such an example see http://arxiv.org/abs/dg-ga/9601012v1 , well it has an isolated fixed point but also some fixed connected submanifolds, so maybe not exactly what you want.

The construction has been later revisited by Kim http://www.mathjournals.org/mrl/2002-009-004/2002-009-004-002.pdf

(note to editors: I guess the creation of 'torus-action' tag migh be useful.)