"Við Haukr munum vega Eystein. Eysteinn er feigr. Vega munum við hann."
Here is what it says:
Haukur and I will put roads through Eysteinn. Eysteinn is a loser. Fight
we shall with him.
Here is how I think it should be in modern Icelandic:
Við Haukur munum vega Eystein. Eysteinn er feigur. Vega munum að honum.
And here is how I think it should be in Old Norse:
Vit Haukr munum vega Eystein. Eysteinn er feigr. Vega munum at honum.
(The original message was evidently some kind of mixture of modern Icel. and Old
Norse. I have also put in an error or two, just to make it interesting :)
NB Any resemblance to living persons is purely coincidental.
To wit: The surgeon general has determined that smoking may be hazardous.