As far as I know, there's no canonical template. I don't know anything about Live Show tagger, having never used it, but I will say that if you're going to be uploading stuff to archive.org, try to avoid starting non-song lines with numbers if you want the track numbers to line up right when you import the show there.
As for track splitting, I aim for equal length on both discs because my wife still occasionally asks me to burn shows for her to listen in the car. You could always just do the one long disc and include split variations in the info.txt (split after track X for equal discs, or after track Y for a long disc 1).