skarpi,
I won't be at Getaway but here's my answer all the same: The grand total of what I know about Icelandic music started with your Mudcat links to youtube; I added to that slightly by watching/listening to some "suggested videos" youtube provided. While I haven't listened for several months, I loved what I heard so I anticipate listening to more and learning about it, hey maybe even playing some one day. Mind you I feel a few doubts since I'm a better singer than instrumentalist and I'm not confident about wrapping myself around the language.

I'm willing to bet there is any number of Mudcatters with similar exposure and knowledge levels, and other vocalists with similar doubts. I think non-native speaking instrumentalists will have an easier time with hands-on exploration of Icelandic music than will vocalists. Say, I don't suppose there's such a tradition as scat singing the Icelandic tunes?