I do this all the time Alex. What works best for me is to get together with the band. Sort out all our sounds etc, and save the template. From there, with each song I do, the song is saved as it's own entity. Close that project, open up the template I created, and we're into the next song.
I've done things the way you did them and man....never again. It's just too long and too much to edit and there are times you make a change for one song and forget you did it and it affects the other songs. So your best bet is to just record one song, save, reopen the band template, record, save...and repeat the process. I can't think of an easier way to do this. My band template (which is pretty intense) opens in 5 seconds with loads of plugs and VSTi's. That's how I do it....good luck.
-Danny