Quoth the Beginner's Guide:
While we welcome bootlegs, we discourage adding home-made compilations
or mixtapes. These kinds of releases are not widely available and any
information about them is typically only useful to the individual who
created them. Releases such as these are usually removed from our
So my personal feeling is that it should not be in MusicBrainz at all.
What you can do that definitely adds value, is to add information about the concert (http://musicbrainz.org/event/create). You should be able to add the full setlist based on that recording.
Adding the full-concert file to MB is probably fine too, whether as a standalone recording linked to the event or as a full (single-track) release (probably set as a bootleg).