As an Icelander who follows things at home quite closely, I'm telling you you're in for a disappointment. Things are not going well.
Unemployment is still high, about 7.5%. Our currency has fallen (and we live with currency controls), so wages here are now among the lowest in the OECD (software engineers now earn about 400000 ISK/month, ~2000 GBP, before income tax (38.5%)) and the prices of imported goods has skyrocketed (and we import almost everything). The price of our exports go up, so the large fishing companies and their owners benefit, and Iceland's government gets foreign currency to pay off its huge and debilitating foreign debt (interest payments alone amount to about 1/4 of government income).
Almost all household debt in the country is price-indexed (!!! -- an almost unique situation). E.g. the war in Libya increased oil prices == more expensive gasoline, which raises the Icelandic CPI and so everyone's loans go up. It's a crazy system. Many Icelanders struggle under overbearing debt, which can only become worse.
To put it bluntly, Iceland's financial woes have been very firmly placed on the working people of the country. Just because we refused to pay the Icesave debt, it doesn't mean that everything is well. A