Half the price is a definite improvement! But overall of course Iceland's food is still expensive. I don't know how price-sensitive con-goers are, but I suspect the food prices would come as a shock to a lot of Americans used to much lower prices.

Edited to add: I had a look At IceCon, which looks amazing, BTW, but the membership breakdown shows it's almost all Icelanders, with five US attendees being the largest contingent of foreigners. I thought it might be more now that the low-cost PLAY has arisen to replace the defunct WOW air, but maybe the recent eruptions have put tourists off.