We did IVF with ICSI due to MF issues. This was before PGS was common, so our first transfer (from first cycle) resulted in a pregnancy with a random trisomy. I had scarring from that miscarriage which I eventually needed surgery to correct, but the cycles themselves were successful even with significant male factor issues.
Nowadays, with PGS being standard, I would guess someone like me would have had a successful pregnancy after her first cycle. I think it's the way to go. If you read up on treatments for MF, most of them have relatively low success rates. ICSI bypasses a lot of concerns with motility, counts, morphology etc.