Yes, definitely reformat before every show. I don't know about the R-1, but with my PDA rig it is best to format FAT16 w/64kb clusters.
Also, I don't know what the origin of the 2 GB limit for wav files is, but it is not inherent in the wav format. The max file size on my rig (using the Live2496 software) is 4 GB. I routinely make recordings larger than 2 gig. However, I have found that Wavelab won't open files larger than 2 gig. Other software, like Goldwave and CD Wave, have no problems with wav files larger than 2 gig.