I switched to a Silver Arrow on my Phantom II and prefer it to the IC-70. I compared them directly in my system and found the Silver Arrow to offer everything the Graham does plus its more balanced through the frequency range, more relaxed without losing detail, more focused, and a bit blacker in its background. The IC-70 (of which I've owned two) subtly emphasizes the frequency extremes at the expense of the middle and has a bit of artificial edginess relative to the Furutech. I think the Graham is an excellent cable but the Silver Arrow clearly sounds better in my system.
Curious if your IC-70 came with the copper/gold Eichmann plugs (it appears to use those in pics I've seen)?
I recently replaced the copper/gold Eichmann bullet plugs on all my silver interconnects with the solid silver Eichmann bullets and was very surprised at the improvement in clarity and smoothness(as in less grainy, more open, refined and realistic). A very audible and significant improvement - especially so given this is the same plug, just different conductor material.
FWIW, I found that a short (shielded) version of these VH audio DIY silver interconnects, with the silver Eichmanns, to be more open and natural/revealing than the Furutech AG12 RCA-RCA cable (that I was using between my SUT and phono stage). The comparison may not be completely fair because the DIY cable is about 30cm vs 1.2m for the Furutech AG-12.
I use the Silver Breeze DIN-RCA cable from my Phantom II to the SUT.