So I think I'm returning this...
Despite assurances it would be safely packed, the D25 arrived without a case, thinly wrapped in bubble wrap, some paper and stuffed in a single Fender box made for shipping electrics. It's a little marked up, but hard to tell what came from shipping and what was already there. Not really in excellent condition cosmetically - there's some checking and a few minor marks, as well as some weird lines in the finish. Very little saddle and I think the bridge has been shaved down. Action is on the high side. Probably needs a neck reset.
I'm really ticked off about how it was packed, and need to cool off a bit before deciding what I want to do. I don't need this guitar, and so far I don't love it, but maybe I need to give it a bit more of a chance.
Edit - The strings on it are very new, but it still sounds brighter than I expected. Loud too. And pretty light.