Day 1 raid plyers going for the raid first will have a modifier added to limit your power level for each stage of the raid with the first part at 700 power.
You need to do the quest to get access to the raid but the race to get your power up is lessened and skill, teamwork and problem solving becoming more important.
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Ah, but only for the first encounter. Then it gradually rise all the way to 720. My point is the 6 hour grind fest is still very important if you plan to have an edge on latter encounters in the raid.