Premier Reykjavik Restaurants
Even though 8.000 ISK may seem a lot of money for dinner, the set and tasting menus at the premier restaurants in Reykjavik are very good value. By 'premier' I mean restaurants that offer main courses for around 5.000 ISK, set menus for around 7.000 ISK and have a wine list written by someone who actually cares about wine.
What you get is between 4 to 8 courses, depending on whether it's a tasting menu or a set menu. A tasting menu offers small portions of say 7 or 8 surprise dishes and is designed to show off the chefs' skills and allow diners to try a bit of everything. A set menu consists of 4 or 5 courses but the portions are slightly smaller than if you were ordering the dishes individually, and thus are quite similar to a tasting menu.
You also get a fleet of waiters to look after you, there's no tip or service charge added, the surroundings are sumptious and you get to eat some of the best food in the world!
NB: Particuarly for the tasting menus, the whole table must order the same menu.