It can be a fairly complex procedure, depending on the receiver. In effect, the RF and IF stages must be tweaked to levels that match Icom's recommended standards. This is not something, sadly, that a newcomer could reasonably accomplish. A detailed service manual, along with equipment that includes RF Probes and a signal generator, would be a bare minimum.
I'd give this a pass, frankly. If someone says to me that 'all it needs is an alignment' (and that person is not technically inclined), then there's a fairly good chance that there's more to the story. A receiver of this age is quite likely to have other component related issues that one would discover as you went through the procedure. It's hard to judge, and don't let the physical condition fool you.
One of its biggest issues is that the operating system is on an EEPROM which is backed up by a battery. If the battery goes bad, so does the operating system. There have been some replacement boards and batteries made by others over the years, but the real issue is the operating system - if it goes away you are Sxxx out of luck. Good luck trying to get Icom to reprogram an older radio like that. Likely they could do it, but with VAT and customs, it's probably not cost effective
73 Mike