hopefully there's no spoilers in that..
thanks
It's sort of the begining of the end game, but it does open up more faction quests, which quests depends on which faction you supported.
The game continues yes, but one or several other factions will not be available. http://www.gamesas.com/topic/1581396-how-to-make-friends-with-all-factions-at-the-same-time/?hl=all+factions#entry24841268 is a list of all factions questlines and where to know when it's "point of no return", meaning you have to complete the MQ.
Cheers,
-Klevs