I bought my IC-725 from HRO in San Diego, early in 1992. After several older radios, it was my first "new" purchase in years. I was immediately impressed with the ease of operation, straight forward layout with no hidden controls under a door or on top of the radio. It was reluctantly sold to a ham friend four years ago when I needed cash to pay unexpected medical bills. He is still using it as his primary HF rig today.
The addition of the CW filter greatly enhanced CW operating and would eliminate most interference. Just about any keyer would do well with the rig.
Receive sensitivity and selectivity was excellent for a radio in this range. I also received great audio reports when using it on SSB and especially with the SM-6 desk mic. It was easy to operate, interfaced nicely with the LDG antenna tuners and performed fine on digital modes.
My only negative experience was after six years the PLL became unstable which was somewhat common for the early production runs as the PLL circuits were not 'baked-in' before calibration and would simply lose lock after a few years of operation. Simply recalibrating the radio made it as good as new once again. Replacing the dial lights with LED's is also a great improvement.
I would strongly recommend this radio to any new ham especially because they can be bought now for $250.00 to $350.00 USD on the used market. They also make a great field day and portable HF station for emergency use. If you find one in nice shape, it will make a worthwhile investment.
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Based on historic data, today's second-hand price of the ICOM IC-725 is around: