I get the point, sort of. But I don't see the logic. As an example, consider the cat family. Lions, tigers, leopards, cougars, cheetahs, etc. all came from one catlike ancestor. By what principle can we think that that ancestor must be extinct? Not all of its offspring will necessarily be transitioning into other species, and so we could expect this species to continue existing. But while some of the descendents remain the same, other descendents could be evolving into new species. Maybe this should not be a common occurrence, but it would not seem too much to think that we could find at least one example of this in nature.
Having said that, the more important question I was asking is if we have specifically identified any common ancestors in the fossil record. Is this a determination that could actually be made, or do the fossils simply not provide enough information about the creature in order to make more detailed comparisons with modern-day species?
Sorry I keep posting the same thing… My Internet connection keeps going out. Didn't realize it had already gone through.