Ok skyldi ek þess grimmliga hefna ef ek gæta náð honum.”
And I should take a fearful revenge for that if I take care of peace to him." (??)
Verðr nökkvinn nú landfastr.
The boat now reaches land.
Hljóp jötunninn nú fyrir borð.
The giant now leaps overboard.
Knútr kom þar fram á bakkann.
Knutr arrived there forward at the riverbank.
Jötunninn var óða málugr.
The giant was furious(ly) talkative.
Knútr tók upp stein ok snaraði til hans, ok kom við eyra honum.
Knutr picked up a stone and threw it at him, and it landed by his eyes.
Hann hristi við höfuðit ok mælti “hvasst er nú á hömrunum svá feykir vindrinn fjöðrunum.”
He shook his head and said "fresh is now at the skin so the wind tosses feathers." (???)
Tók hann þá gaddakylfu, járnvafða, ok hljóp neðan einstigit.
He then took a spiked-club, wound round with iron, and ran below the narrow path.
Hálfþrítugr var hamarrinn.
The hammer was aged 25.
En þá er hann var kominn í it efsta stigit, renndi Knútr at honum ok rak spjótit fyrir brjóst honum.
And when he had come in the last path, Knutr ran at him and drove his spear against his breast.
Spjótit gekk á kaf, en jötunninn datt ofan fyrir hamarinn ok brotnaði í honum hvert bein.
The spear went to a plunge, and the giant dropped down against the hammer and every bone in him broke.
En Knútr tók kylfuna til sín en síðan sté hann á nökkvann ok reri til eyjarinnar, gekk á land ok litaðist um.
And Knutr took the club for himself and then he stepped on the boat and rowed to the island, got to land and looked around.
Hann sá hól einn háfan með fögrum grösum.
He saw a hill (háfan?) with beautiful grass.
Þangat gengr hann.
He goes there.
Hann finnr þar á glugg; hann setr gler fyrir augu sér.
He finds there an opening; he sets a looking glass in front of his eyes.
Hann sér hvar krákan lá á mikilli dyngju.
He sees where the crow lay in a great lady's bower.
Hann sá af henni var vængrinn.
He saw that it was without its wing.
Hann tók þá í posa kerlingar ok sáði inn í glugginn því sem þar var í.
He then took in the old woman's little bag and scattered inside the opening that was was in there.
Fell þá svefn á krákuna.
The crow then fell asleep (more literally, sleep fell upon the crow).
En síðan fór hann inn í hólinn.
And then he went inside the hill. (Sounds like a dungeon crawl is in store!)
Hann tók um háls krákunni ok snaraði hana úr hálsliðnum í millum handa sér en í hennar fjörbrotum varð svá mikill landsskjálfti at undrum gegndi.
He took hold of the crow's neck and twisted it out of the neck joint between his hands, and/but in its death struggle (there) was an earthquake so large that it amounted to wonders.
13
Knútr tekr sér nú eld ok gekk til dyngju krákunar ok rubbar henni upp allri.
Knutr now takes fire for himself and went to the crow's lady's bower and huddled it all up. (??)
Finnur hann eggit ok lætr þat koma í posa kerlingar.
He finds the egg and has it taken in the old woman's little bag.
Niðri undir dyngjunni fann hann jarðhús.
Down under the lady's bower, he found an underground room or passage.
Þar lá fyrir ormr einn.
In front of there lay a dragon.
Hann bles þegar eitri ok sakaði Knút ekki fyrir taufrum kerlingar.
It at once blew poison and didn't harm Knutr because of the old woman's sorcery.
Ormrinn fló út um glugginn.
The dragon flrew out threw the opening.
Gull mikit ok gersimar var þar.
Much gold and treasures were there.
Hann fylldi upp uxahornit.
He filled up the ox horn.
Tók hann þat af gullinu sem honum likaði.
He took (all) that of gold as appealed to him.
Vendi hann síðan í burtu.
He then turned away.
Kemr hann nú til nökkvans ok rær síðan at landi.
He comes now to the stone boat and then rows to land.
En er kemr á vatnit þá kemr ormrinn upp úr vatninu með gapanda munni ok leggst at nökkvanum ok lagði bægslit upp á barðit.
But when he comes to the water, then the dragon comes up out of the water with a gaping mouth and lay himself at the stone boat and lay his shoulder up on the ship's prow. (One note in https://en.wikipedia.org/wiki/Wikipedia:Reference_desk/Archives/Language/2007_July_19, scroll down to the section on Icelandic, says that bægslit=BÆXL+it)