Recent phylogenetic research indicates that vascular plants evolved from br
yophyte-like ancestors and that this involved extensive modifications to th
e life cycle. These conclusions are supported by a range of systematic data
, including gene sequences, as well as evidence from comparative morphology
and the fossil record. Within vascular plants, there is compelling evidenc
e for two major clades, which have been termed lycophytes (clubmosses) and
euphyllophytes (seed plants, ferns, horsetails). The implications of recent
phylogenetic work are discussed with reference to life cycle evolution and
the interpretation of stratigraphic inconsistencies in the early fossil re
cord of land plants. Life cycles are shown to have passed through an isomor
phic phase in the early stages of vascular plant evolution. Thus, the gamet
ophyte generation of all living vascular plants is the product of massive m
orphological reduction. Phylogenetic research corroborates earlier suggesti
ons of a major representational bias in the early fossil record. Megafossil
s document a sequence of appearance of groups that is at odds with that pre
dicted by cladogram topology. It is argued here that the pattern of appeara
nce and diversification of plant megafossils owes more to changing geologic
al conditions than to rapid biological diversification.