Guns 'n' Roses are probably going to get on, and my guess for their one is Sweet Child of Mine; it's got the most recognisable guitar line of theirs.
Richard Thompson probably won't get on, but he deserves to be there for all sorts of reasons, most notably the nine minute live version of Can't Win on his greatest hits.
Jimi Hendrix ought to be there, and I'll choose The Star Spangled Banner as his most notable piece.
Eric Clapton really should be on, even though what's probably his best guitar work (Cream's blues covers) isn't really my favourite of what he's played on. (I'd like to see something like White Room, but that's more Jack Bruce and Ginger Baker's awesomeness on display).
King Crimson should be on, preferably for Red, but they're probably a bit too obscure for Today's Youngsters.
Thought of another one. U2. Pride (In The Name Of Love) was their last big Guitar Song but might be a bit old for the youngsters. There's some nice guitar work on Where The Streets No Have No Name, but it's probably not actual guitar heroism as such.
I'll try (if I remember) to liveblog the show as it's playing. Here goes nothing...