I think I might have a faster way: Use the play order track.
For each song, use the playorder track to make it "part." Make a new arrangement with only the first song in it. With only one part then use flatten. Then do a "Save As" to that song name. Then hit Undo, make an arrangement of only Part B, etc.
I think when you even do a Save Project to New Folder you can select it to only take the audio files it needs and leaves the rest.
Of course make sure you have a good backup and don't save the original project.
But I can typically do flattens and bounces of the playorder track really quickly. Then the saves only takes the files it needs rather than having to move around all the files from all the songs.
Once the songs are in their own files. Changes between this is a bit of a bitch. Templates can work, but Mixer Settings has been my favorite one. Especially at this point since all the tracks match. But even if they don't I will do drums, the main guitars, vocals etc. Than manually do any of the weird tracks like bass solos, or acoustic guitars, or guest vocalists, etc.
It is a bitch, but I haven't found a better way.