Icelandic

The University of Iceland (http://icelandic.hi.is/)offers a free online course for learning Icelandic. Although there are not any videos on the site, there are audio conversations available with a transcript, as well as grammar explanations, declensions, verb conjugations and a glossary. There are also exercises for each lesson. There are 2 Icelandic courses available and the website is very well put together and easy to navigate. I did not see a pronunciation guide on the website, but I did find one here: http://en.wikibooks.org/wiki/Icelandic/Alphabet_and_Pronunciation

Livemocha also offers a beginners course in Icelandic, which introduces many vocabulary words and basic sentence structure to beginners.
http://www.livemocha.com/learn-icelandic

I also found a very useful online grammar book here:
http://www.samkoma.com/mimir/mimir.htm
You can get information on adjectives, nouns, articles, conjunctions, nouns, numbers, prepositions, pronouns and verbs.

BBC Languages also has a few audio files for phrases and words on their site.
http://www.bbc.co.uk/languages/other/quickfix/icelandic.shtml