Editing Long Recording of Live Gig

Hi, all.  I am trying to figure out how to help someone who has a 24 track 2 hour live concert recorded.  It is all imported into Sonar X1 as a single project.  At this point, he wants to break it into individual songs.  There are a couple of challenges:
 
1) He has already done a lot of mixing and automation on the songs in the current 2 hour mega-project.  He doesn't want to have to start over.
 
2) He could create a whole bunch of separate projects (per song) by doing "File -> Save As -> Song 1", "File -> Save As -> Song 2", etc.  While this is tedious, he could do it.  But, Sonar keeps all of the original audio files in tact.  So, he would have a full copy of the 2 hour concert for each song.  As far as I know, there is no real way to tell Sonar to trim the actual audio file down to the portion that is actually being used.  (The "Apply trimming" function does not alter the source audio file from what I can tell.)   
 
Is there any way to save the songs individually, keep the existing track configuration and automation, but not copy multi-GB's of audio for each song?
 
BTW, I suppose he could (in this rare case) decline to use the "one project per file system folder" standard that he has used in the past.  That may be the best option.  What do you guys think?  (He really prefers to have the audio for each song in it's own distinct folder...)
 
Thanks!
 
Ed