I have never used the N4PY software, but...
Just because you can control your rig with your computer, that does not mean you have a "software defined radio". A software
controlled radio and a software
defined radio are two completely different things.
and furthermore...
No piece of software alone will give you a full band sweep "panadapter" by itself. In order to do that, you will need to add additional hardware to your station. According to the N4PY page, "With the new Flex-1500 (or even a used SDR-1000 1 watt version for around $200) now available from Flex Radio, you can now add the fantastic Flex Radio real time panadapter to your Icom radio when using N4PY software. The N4PY Icom Radio Control program will allow you to add any Flex radio (the brand new Flex-1500 is only $579) to your Icom radio." (And to update this, the SDR-1000 is no longer in production and the Flex-1500 is now $699.00.)
So now that I have totally burst your bubble...
I heartily recommend HRD. If you really want to try it out without the 30 day "trial period" limitation of the latest version, you can download the last free version here:
http://www.iw5edi.com/software/ham-r...download-links. I still use the free version and it works fine for my purposes. The only caveat is that there is no "official" support for this product from the company that now owns HRD, but there are plenty of folks out there using it so getting support shouldn't be a problem. I use it with an IC-7410 that also has the same USB connection as the IC-7200 and setup is a breeze. (But then again I thought setting up LoTW was pretty easy!) If you really like HRD and have $99 burning a hole in your pocket, they tell me that migrating from the free version to the paid version is a relatively painless process.
Clear as mud, eh?