In late 1980 the NYSW RR. became NYSW RWY. While the colors of the locomotives and the physical plant are still intact, does the name change mean the Susie-Q is considered a fallen flag?
Interesting thought. But since the full name continues and as the original railroad forms the base for the company both in physical asset as well as on paper, the answer has to be that it is not a fallen flag.