Learning a language is all about productivity. Paper dictionaries, are not a productive use of time. What is best is read on line with a online dictionary close enough to allow for cut and paste.
Dicts.info : Enter first few letters of word, does an English and Icelandic lookup at the same time.
University of Wisconsin: Enter word, even the inflected form, and UWDC will usually find it. You can use d for ð. Doesn’t do as good a job with a “starts with” search.
Being motivated about learning a language is all about real social relationships.
Meetup.com Icelandic meetups, like the DC Icelandic Meetup. This has been the best thing for my Icelandic skills outside of BYKI vocabulary drills.
Italki, online social networking for language learners. I personally haven’t benefited from this service, yet, but it shows promise.