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I was wandering how far I can go over 50 even before finishing the 2.0 storyline (I last left the storyline one quest away from Garuda, the 3rd primal battle). Just thought I'd try this with my alt (currently lv49) and get a comfortable headstart on the HW storyline when that comes around after 2.55.
This is taking into account the challenge log entries, dungeons, fate battles, beast tribe quests and leves (the whole hunting log for ACN is complete).
Being perfectly honest, you can go all the way to 60, if you choose to. You gain XP from the level 50 dungeons, so if you ran them over and over you'd hit 60 in no time. Judging by your profile, you probably know this already though so I'm not sure what else to tell you.
Ok, so I may go to 50, get the Garuda battle out the way (level synced), and pause the story again, and see where I can go from there.
It's just best to keep doing the story. If you max out before, you're just throwing away free XP, unless you level another role with MSQ.