Well the true ending is from episode 46. Playing beyond that isn't worth while unless you really just wanna play more.
My advice to new players is just focus on the required content (any episodes, side-ops, and cassette tapes colored yellow). Doing all the side content and higher difficult repeat missions will drive you crazy.
I agree the game does get tedious and some missions are a chore. But hey, its MGS. What did you expect?
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