I agree - I tried my Railcard and there was no discount, still £25, and the fare was only applicable from Leeds rather than Ilkley where I travel from. As a result, if you were booking early, the difference was marginal,.
Definitely not as good as the previous offer, I managed to go from Ilkley to Glasgow via East Coast this week for £17.85 1st class each way (with Railcard), with meals and drinks thrown in.
I agree and those keeping an eye on the EC first class thread will know that yesterday I did Haymarket to Kings Cross for £26.55 in first with railcard discount and the additional 34% off from the EC offer.