I watched this film expectantly this week, Gunnar Hansen (Leatherface from Texas Chainsaw Massacre) is in it for a short while. He was born in Reykjavik apparently.
I thought the film started fairly decently but then it sort of went downhill as I could see it was becoming a more typical slasher style film. The special effects in the kills are quite good, one guy is harpooned in the water. The other members of the party become less and less likeable. I don't really understand why but the characters behaviours suddenly became unbelievable and the film decended into a sort of satire of itself. I felt it was a bit of a waste and that there was something worth exploring in some of the characters, rather than simply killing them off.
I would watch it again for a bit of fun but its not the film I thought it might have been.