you need an exact model? becuase I would use the image as a scene background as the image with NO stretching and then orientate my models view to accomodate. However this is purely conceptual approach.
Never really used point clouds but do you think change the default units before importing will help?
This has helped my on several occasions with importing 3D models.
T
Sorry I haven;t found a way to get a clean image exported out of the ICD enviroment so I just use an outlined black DXF'd logo. Also, There's an issue sometimes with the circles exporting as hex's so thats another issue.