Well lets just say Iceland is on occasion jaw-dropping, but expensive. It is on the level of expensive that when on the return budget airline and you see the in-flight catering then you think “good grief that’s cheep”…
But is it worth it, well yes. Essentially because it is so different to anything else I have seen. But, if it is your first time there, just be the tourist and treat it as a photographic reconnaissance trip – you will want to return.
One thing, if you do go don’t skimp on the hire car, there is only so much a bottom of the line hire car can comfortably do – and don’t forget to get good damage waiver insurance before you go. The roads are excellent on the whole, but you can suddenly find you have gone from a full width paved road to an unpaved one with just 100m notice.