Here you'll find lots of links around the icelandic language. Plenty of stuff, collected over a long time trying to learn this language myself with online-resources... and you can probably find everything you ever needed for this... everything except practice.
Icelandic language links
General language Links
Online Translation
A Online translation tool with lots of languages, including Icelandic
Foreign Languages for Travelers
Links and materials for quiet a lot of languages, including Icelandic. Mostly intended for travelers.
BRAGI: Íslenska sem erlent mál
Great resource for learning Icelandic on the net. Lots of words, grammar-tables, audio- and more resources.
Mimir - Icelandic Grammar Notebook
A easy to use reference to the grammar of the Icelandic language. Although there are said to be a few mistakes on the site.
Andys Icelandic Assistant
Large collection of phrases, most of them with audio files spoken by icelanders. Useful resource!
Icelandic Phrase Page
Collection of icelandic phrases and words, some with a .WAV to listen.
LearningIcelandic Join member
Yahoo group mailinglist with more than 200 members. Official description: "LearningIcelandic is designed for people (especially beginners) learning the Icelandic language. Mutual encouragement is the primary aim of this group, which includes absolute beginners and those whose skills are fairly good. Hopefully members will share information and resources. There are several Icelanders on the list who kindly help out."
Icelandic-grammar2
Yahoo group mailinglist. Official description: "In this group Icelandic grammar will be discussed with a view towards learning and/or improving writing skills in Icelandic. Grammar learned will also be applied to spoken Icelandic."
Málvísindastofnun
A long list of books and more offline resources for learning icelandic.
Bóksala Stúdenta
Online (and offline) book store with the main goal of providing the students at the University of Iceland with textbooks. Has plenty of icelandic books of course.
Mál og menning
Icelandic book store and publisher with lots of interesting books, also for icelandic-learners.
Sagnanetið
Scans of lots of old books. A great archive of handwritings!
Stofnun Árna Magnússonar
The Arni Magnússon Institute, part of the University in Reykjavík researching the old handwritten icelandic sagas. Quiet interesting.