I recently had an opportunity to spend 2.5 days in Iceland, on my way back from a trip to Europe. Overall, it was an amazing experience. So much to see. Beauty of Iceland is like no where else I have been - fusion of ice, fire, water, wind and people - wild and beautiful. The winds and rain were strong on the day of my arrival, and most of the next day - so there were not that many opportunities for sunrise and sunset shots. The next day was slightly better. I mostly focused on capturing what I could, traveling in the car - first day to the Snæfellsjökull Peninsula and the next to the south coast - up to and including the beautiful Skógafoss Waterfall. On the third day, I had a chance to sample some Reykjavik cuisine and traverse the city streets with my Nikon FA (see separate blog post for those photos).
Regarding the gear, I primarily photographed with a weather sealed Pentax K-1 and 24-70 f/2.8 WR lens as well 100mm Macro WR lens. This provided me with the highest level of flexibility, considering the conditions. Many photographs were taken without the tripod, using the amazing image stabilization in-camera, giving me a chance to shoot extended shutter speeds (around 1/8th of a second) while handholding the camera.
Attached also is a youtube video which shows off some of the places and attempts to convey the overall feel of the place.