<1> Spend the $15 on the CD-Wave registration, you'll end up using it a lot and it's well worth the $.
<2> Use CD-Wave to cut the recording into tracks.
<3> Drop the cut up WAVs into FLAC FrontEnd
<4> Create an info (TXT) file with useful information like band, date, city/state, venue, setlist, equipment used, location of gear, etc.
<5> Backup backup backup to optical (CD/DVD) and offsite
Off you go.