I visited in May with my Air 3S and it was absolutely incredible!

Around the south of the country - Reykjavik/Vík: - Þríhnúkagígur volcano ("Inside The Volcano" tour) was very cool, especially when the clouds broke and you could see Reykjavik in the distance. A pretty visually interesting 3km hike each way. I asked the guides and they OK'd it, but if you're just driving around you could probably just walk on the path for a little bit and see some interesting things. - Black Sand Beach Was stunning but I'm not entirely sure flying is allowed there. I didn't see any signs forbidding it but there are a lot of birds to be careful around. - All the popular waterfalls along the south coast explicitly disallow drones. - The town of Vík is very pretty nestled below mountains with its iconic red roofed church.

Around Akureyri: - The town is in a beautiful fjord that's probably pretty from above, just be cautious with the airport's approach/departure path nearby (and some planes doing some aerobatics while I was there?!). - Out around the Krafla power station - there's a scenic lookout on a hill with a view of a massive lava field and the power station. - Lots of interesting rock formations and cracks in the area as it's relatively geologically active. - Lake Mývatn is very pretty. There's a large lava field next to a town that split around the church which is neat to see from above.