Wow.. Have you just come back from there?
I'm going in 2 weeks time.. Did you have any mag interference problems?
Flying in Iceland, mag interference, ATTI mode.
Hi! You will have so much fun! I want to go with you!
On a serious note, yes, I had many compass problems. One time, I attempted a flight of about 1500 meters toward a volcano crater, but the compass went so crazy I just turned around and gave up. Otherwise, most of the fields, rivers, and such did not give too many problems. I think it's a case-by-case basis. There appear to be very large magnetite and iron deposits all around Iceland. I say give it a shot, and keep in line of sight (of course), and worst comes to worst, you can bring your bird back with the orientation lights and the distance indicator on your remote controller.
Have fun! The biggest challenges in Iceland are high sustained wind speeds, wind gusts (insane ones), and the low temps, which cause severe battery voltage problems and prop icing. Keep your batteries (and your bird) up front in the passenger compartment so they are nice and toasty.
Good luck! I look forward to your videos and photos!
BTW, if you need something while there, go see the excellent guys at Drone Fly, in Reykjavik. They sold me a P3P after I trashed my Mavic at Reynisfjara black sand beach.
http://dronefly.is/
They have a pretty remarkable array of things in stock. I was able to buy a P3P, a set of PolarPro Cinema Series PL Filters, and then they also got an extra battery in 2 days later. Best of all, they are just great guys!
The sad part is that I was not able to use my P3P at all because the weather turned, I was with a group, and could not be nimble enough to jump out and use it when those rare pockets of nice weather jumped up! The weather in Iceland changes every 5 minutes, and this is not an exaggeration. We were on the beach at Ytri-Tunga, in 30 degree F with clear skies, and 2 minutes later it was 18 degrees F, with wind so hard it would knock you down, ice pellets to the face, and a -4F wind chill factor.
Wear good gear, watch that weather, and don't worry too much about the magnetite. Good luck!