Just for your information from my point of view. I play 2 bands, total of approximately 90 songs between the 2 that we add and remove depending on the night of course.
I have 3 "regular" performances. Clean / Light Crunch / Crunch / Overdrive / Lead
Each of these performances have subtle differences in available stomp effects. PLUS, I use the morph on all as well to add to the flexibillity to each rig in the performance.
I then have around 8 - 10 separate performances dedicated to specific things / Songs. Some examples:
Living on a prayer - Talk box plus, plus step down transpose (so our singer cant cope with the key change lol)
Half step down
Full Step down
Acoustic
Guns & Roses (half step down with Slash amps ect... just because!! lol)
Guitar 2 - I play in a different tuning for a couple of songs which requires specific sounds and effects
I find that while not "perfect", it pretty much services both bands and gets me 95% of the way there, while still being really simple.
Works for me.