I mean, the opening cinematic alone shows how much effort they put into this. While I'm sure Neversoft would have put in a good effort if the music went to Guitar Hero (they collaborated on a venue with Tool to have 3 of their songs in the game), I don't think they could pull off anything like this.
It's not like AC/DC or The Clash or any of the bands I'm usually a fan of, so I can't say which songs "be better be in there". If I've heard of it, chances are good it'll be included in the setlist. My only disappointment so far is that George Harrison's "Wah-Wah" won't be included as a bonus song.