This quality dictionary is a handy guide to translations AND helps the user understand the grammar and correct usage of each listed word. There are 40.000 words to look up and are listed "both ways" so you can translate from English to Icelandic and Icelandic-English. It´s called a pocket dictionary but it has 1037 pages and will by no means fit the pocket of your jeans. Perhaps a pocket on a raincoat or parka rather...
In any case, a quality dictionary that should be of use for students and amateur practitioners alike. It is referenceable and academic so would do well for the seasoned user of Icelandic as well.