Peter Plavchan We present our current progress on obtaining precise radial velocities with the iSHELL spectrograph and the methane isotopologue absorption gas cell in the calibration unit. Over the past year, we've collected 3-12 epochs of 17 bright G, K, and M dwarfs at a high SNR to test the obtainable precision. We've successfully updated both our spectral and RV extraction pipelines from our CSHELL analysis software. With sufficient progress on our fringing and telluric model components, we hope to obtain a precision of <5 m/s with iSHELL, sufficient to detect terrestrial planets in the habitable zone of nearby M dwarfs. We outline forward-looking exoplanet science applications of this capability.