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Snake would be able to take on any of the bosses in this game. Don't forget that he took on Frank Jaeger, who is a legend even in this game's standards. His sword allows occasional one-hit kills by channeling the spirit of Gray Fox. This implies that if Gray Fox were in Raiden's shoes, he'd be one-hit-killing everything ever.
Snake > Gray Fox > Raiden > This game's bosses.
If I were a woman, I would spend my entire day kissing other women. I don't understand gay men or straight women.-- Jim, The Newsroom