[VRWCmember]

Wouldn't the theory also predict that there would be a plethora of transitional species in the fossil record if indeed one species evolved into another? Hypothetically, wouldn't the absence of such transitional forms in the fossil record be problematic?

[Dimensio]

Wouldn't the theory also predict that there would be a plethora of transitional species in the fossil record if indeed one species evolved into another?

There are a plethora of transitional species in the fossil record, at least as far as there are fossils. Fossilization is not a very common event, though, so you won't necessarily find a comprehensive catalog of every species that ever existed.