So where are the trasitional species?
They are being found wherever paleontologists are digging. In China lightly build feathered dinosaurs appear transitional to archeopterix which appears transitional to birds, as one example. Forty million years of whale evolution has been traced through a number of species from a land walking animal to the one that swallowed Jonah. The formation of fossils is very rare as most dead are eaten or rot before they fossilize. Thousands of deer drop antlers in our woods every year. Why don't we find many? Because they are eaten for their calcium content by mice, etc.
Absence of evidence is not evidence of absence.
Missing evidence of the earliest forms is probably a combination of the soft bodied earlier forms (fossil jelly fish anyone?), and catastrophic meteor strikes (at least 3) before the first hard calcium structure beings developed 1/2 billion years ago. Check out the web sites about Meteor Impact Crater. Scary stuff.
methinks you bark up the wrong tree - I'm solidly in the evo camp here, and am well aware of the wide array of fossil transitionals. Hell, on this I'm kind of an extremist, considering every living fertile individual a potential progenitor of substantial speciation, and thus in themselves being transitional specimens within their species pools, which themselves are by default transitional :)