There are several factors that will determine how much of a pain doing the current relic quest will be in HW.
  1. How long it takes to level up from 50 to 60?
  2. Will they furthur increase drop rates of atma, alexandrite, light and zodiak components?
  3. Will some stuff convert to Tier IV materia default?

1 and 2 will determine if doing the Relic quest while leveling up is a viable thing. 3 will determine if doing the Relic quest is affordable.