>> My understanding is the timing and precision requirements are much higher here, but on the other hand the "rate" of fire would be necessarily much lower making something perhaps feasible.

Leaving aside rate of fire and energy efficiency you have to develop a system that can shoot the hohlraum into the reactor chamber such that the lasers can be steered onto the target with enough precision to produce ignition. I believe 100um is the miniumum for the type of targets used in the INF. This all needs to occur within the reaction chamber. Besides the thermal loads you also have residual gases within the chamber. These conditions somehow have to be accounted for or you won't get ignition.

The work they did in demonstrating ignition is great but the engineering challenges for commericalization are immense. EUV lithography took decades to develop and perfect.

>>What I'd like to understand is what are the major tradeoffs in ICF vs MCF that would drive pursuing the difficult engineering problems of one vs another.

MCF is generally seen as a much easier approach because you avoid the problems with repeatedly generating fusion conditions and you remain in the ballpark of what can be solved with better technology. You can come up with a tokamak that you can be absolutely sure will probably work with enough money; but I'm not sure the same is true with ICF.