If you play end game PVE you know the value of this weapon, if you don't then I guess it's not that important. You can solo a nightfall just using this bad boy.
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I'll have to give it a shot next week and hope for the best.
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I would do it's a great weapon. Never having to reload is extremely useful in boss fights when you get a few shots off then have to move. Black Hammer is a close contender but I still prefer Ice Breaker as you don't get punished for missing the critical shot.
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If you only view it as a gun, you're missing the point. The Ice Breaker can regen ammo for any special you have. Out of special ammo, switch to ice breaker, let it recharge, then switch back to another weapon and boom, ammo. It's not a PVP gun. I'd never use it in PVP. But against Atheon, or most other bosses? It's invaluable.