For many years I have transcribed the guitar and/or bass parts in standard notation for most of songs I am intending to play live. I find this hugely beneficial because:
I have a permanent record to refer to in the future if needed;
It is great training for the ear;
I have improved at it over the years;
I can have confidence in playing the right part;
The last 15 years' worth are in Sibelius format, so I can quickly and easily transpose them to other keys if required;
If it's a gig where music stands are acceptable, I can read the PDF files from my iPad; and
If I need to dep out a gig to another reader, I can send them the PDFs in the right keys.
Works for me.