I've been but it must be about 5 years ago now. I was on a work jolly so didn't pay for anything but do remember thinking things were pricy, a glass of wine was about £8 (and that wasn't in particularly fancy places).
We went in a really high restaurant (can't remember name

) that was gorgeous and amazing view and some of the best fish I've ever eaten but again pricy, the cheapest bottle of wine on the menu was about £70 for bog standard house white. We went to the bar/club that is part-owned by Damon Albarn one night, people don't go out til really late tho, cos everywhere is so expensive they drink at home and then head out about 2/3am. Also the Blue Lagoon is a must-do.
It's an interesting place, when you land at the airport you're literally in the middle of nowhere and it feels like you're on the moon (not that I've ever been on the moon but that's how I imagine the moon to be

) cos it's so remote. Don't know when you're planning on going, we were there in Fer/March for the Northern Lights which was amazing. Weather was really bright sunshine but bitterly cold with freak snowstorms and if you get caught in one of those you're
It was a good experience but I'm glad I didn't pay and I probably wouldn't go back there in a hurry.