Well, there's the Animorphs series of books. In fact, here's a link to their publisher's page, complete with all of the covers(and the TFs) on the front. Just scroll down a little(the book series is over 50, and everyone one of them has a TF description, so me listing them all would be a bit overboard) : http://www.scholastic.com/animorphs/games/pix.htm
Also(one of my favorites), there is the book "The Monster's Ring", which contains decent B&W illustrations(no real mid-TF illustrations, though), as well as TF descriptions for his "monstrous changes" : ISBN 0671644416
I also place up for mention the Strange Forces selection of the Strange Matter series. In the first three of the four books of that sub-series I have read, they involve TFs into various monstrous creatures(such as a gargoyle or thunderbird). The main series has a few TFs, but those are not consistent(although the few are well-described). The ISBNs(and the TF in each) for all are as follows :
#7 Fly The Unfriendly Skies : Girl into water sphere - 1567140424
#14 Plant People : Man into plant monster - 156714053X
#25 Splitting Image : Boys into various monsters - 1567140815
Strange Forces #1 - 1567140572
Strange Forces #2 - 1567140602
Strange Forces #3 - 1567140866
Strange Forces : The Last Buru(is likely to contain TF, but I have not read it yet) - 1567140874
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