Just wanted to add my ideas for packing for the weather in Iceland/ Norway for whoever wants or needs them. We have done both countries and you will be blown away at how beautiful and fun they are. We live Alaska for reference so we expected about the same weather for when we went in late May/June/July. I grew up in the Texas and Florida and had to learn how to dress for this kind of weather through the years by trial and error.
I must say we had more sunny weather than we expected but you absolutely will need rain pants and a water repellant not just resistant jacket for the waterfalls as well as good hiking waterproof shoes. These can be found so cheaply from Columbia I can't imagine spending as much as the original poster was quoted to be outfitted on their trip. Here is what I always wear or have with me when going out in the elements or on a boat, hiking etc but you might not need them (especially if you bring them!!

) . I wear a thin tank top, short sleeve tshirt (sometimes wool-like smartwool), quarter zip or henley (wool blend), thinnish cashmere crewneck sweater or a light down hood less jacket and then a raincoat. For the bottoms I wear thermal underwear (wool blend), regular pants like jeans or tech pull ons, and rainpants. Hat and mittens (although you can find these all over both countries and they make for great souvenirs) if you are on the water or if it's windy at the summit. As for hiking shoes yes you can wear big hiking boots but I find unless you are actually hiking uphill in backcountry you will be fine with waterproof low tops and more comfortable walking around the towns- I found some from LLBean that worked great. The great thing about these layers is they are each thin/not bulky and you don't need multiples of them. I know some people get really cold if its 50 degrees and windy-if that is you- then pack a packable down coat with hood- you can find them on
amazon- and you can wear this amongst your layers. Also Rick Steve's has a great forum with tips on all this. I love using that for my trips. Hope this helps someone. Half the fun of travel is the planning!!