Hello there Talija. Your list is similar to mine with the exception of Captain Crash, I'd Die For You and These Days. These are all fine songs and I don't mind them being put in the setlist.
This is the science that I used when constructing my list

I kept in mind that there are classic songs that definitely have to be performed (Wanted - I don't like this song but I can't remove it, Bad Name - ditto, Prayer, Bad Medicine sans Shout - need a new cover song here, It's My Life, Keep The Faith), there are new songs to be performed, and at least four of them (the ones which are absolutely gonna be in the set are: Undivided, Everyday, Bounce and Misunderstood if this is the next single). So the total is 10 songs that are going to make it.
We need 12 more songs. We need ballads. That's why I picked Never Say Goodbye because this is rarely performed despite being very popular. This can be substituted with These Days which is my favorite track from that album and is a rarely played ballad as well. Or maybe, Livin In Sin. We need another ballad, and we definitely have to pull it from the more known hits (either Always, Bed Of Roses, I'll Be There For You - This Ain't A Love Song or Thank You For Loving Me can be played too).
Twelve songs, ten more to go. We need oldies. Runaway and In And Out Of Love seem to be likely candidates. The band doesn't like anything else from the first two albums anyway.
Fourteen, eight more to go. We need songs to represent each album from Slippery up to Crush. From Slippery, I don't have anything else, because there are already 4 songs from it. I don't mind alternating I'd Die For You and Raise Your Hands. Next, New Jersey will have Blood On Blood and Born To Be My Baby. Not Lay Your Hands On Me since this song is very long and can drag the concert. From Keep The Faith, we have to NOT take Sleep When I'm Dead, and get In These Arms instead. Next, These Days will have a rocker, Something For The Pain is a good choice since it's pretty popular. Crush can have one more song and that can either be One Wild Night or Captain Crash.
We have five songs to fill the eight slot. The other three can consist of rare album tracks or new songs or covers or even B-sides to please the diehards! This should be a good mix.
Next, the order of songs being played. It is important for a rock band to start and end the concert with rockers. It is a must! I've been to many concerts and I can tell you, if a band ends it with a ballad, it kills everything and I know Jon's been guilty of this a few times. We'd like the band to spice up the order of setlist. This means, no Bad Medicine as main set closer, no pairing of Prayer with Bad Name and stuff like those. Starting a show should be either a well known rocker (but not Prayer) or a new rocking song. Since they opened the OWN shows with OWN (a new track then), this one will start with a classic rocker. Either It's My Life or Bad Medicine will be good. Then the concert closer will be a well known hit. I know Prayer's been closing shows in the past but lately it's been opening, so I vote that as the main set closer. Keep The Faith is a good encore since it has never been played as one as far as I know. The encores can be one ballad and one rocker or both rockers. Or if we have multiple (2) encores, we can have one ballad and two rockers or three rockers.
So here's the UPDATED breakdown of my setlist
The first two songs can be swapped
1. It's My Life/Bad Medicine
2. Bad Medicine/It's My Life
3. You Give Love A Bad Name
Enough classics to get people started. Time for new stuff
4. Everyday (current single to get the crowd going for the new stuff)
5. Bounce
6. Undivided
Slow down the set to give Jon a break
7. Wanted Dead Or Alive
8. Never Say Goodbye or These Days or Livin In Sin
Time to pick up the tempo again with less known rockers (but good for the diehards)
9. Born To Be My Baby
10. In These Arms
11. Just Older
12. Something For The Pain
New songs again
13. Misunderstood (next single)
14. Another new song (a ballad) or a cover song that has never been played or a B side
Oldies time
15. Runaway
16. In And Out Of Love
Crowd pleasers to round up main set:
17. I'd Die For You or Blood On Blood or Raise Your Hands
18. One Wild Night or Captain Crash
19. Someday I'll Be Saturday Night
20. Livin On A Prayer
Encores:
21. Always or I'll Be There For You (or the other well known ballads)
22. Keep The Faith (to end the concert in a high note)
Having several songs that can fill one slot is good to vary the setlist from concert to concert so it doesn't get boring.
Wow, this is fun
