Heill Meldric!
>
> Here with my keyboard there it isn't a problem just to press <`>
immediatly
> followed by <a>, <e>, <o>, <u> or <i>. No need to use the <alt gr>
key at
> all. This might be a special thing on german keyboards, have you
ever tried
> that?

Maybe the <Alt Gr> key is something that we only have in Norway(?)
My keyboard is like this:

qwertyuiopå^ [ Enter ]
asdfghjkløæ' [ key. ]
<zxcvbnm,.- [Shift key]
[Ctrl][Win][Alt][Space][Alt Gr][Win][x][Ctrl]

Most keys access only two chars/graphic signs.
Typically "plain" and "shift".
Example: "r" and "R".
But some keys access three chars.
Example: "e" , "E" and "€".
Here "e" is obtained by pressing the <e> key only
and doing nothing else ("plain" option).
"E" is obtained by pressing <Shift> + <e> ("shift" option).
And the strange character "€" (ecu?) is obtained by pressing
<Alt Gr> + <e> ("alt gr" option).

Another key that has 3 possibilities is the <^> key, that is
to the right of <o><p><å>. This particular key has the 3
options "^" , "¨" and "~" , that is: hat, umlaut and tilde.
I can now try it out with the <e> key:
<¨> + <e> gives "ë" , that is e-umlaut.
<^> + <e> gives "ê" , that is e-hat.
<~> + <e> gives "~e".
I had expected the tilde to go on top of the "e".

At any rate, the same method works to give umlauts and hats
to all of the vowels:

ä ë ï ö ü ÿ and â ê î ô û ^y.
(the hat did not work with "y")

Also, the tilde goes on top of *some* letters, but not all.
Examples are: ñ õ ã ~i ~m ~e.

The other key that I use for accents is the one to the
right of 1234567890+, which is the <\> key.
It gives "\" , "`" and "´". (plain, shift and 'alt gr').
In combination with vowels it can give (example):
á é í ó ú ý and à è ì ò ù `y, that is the 'alt gr'
and the 'shift' series. But the "y" refused to take the
accent grave.

Any way, in this fashion I only need to use Alt + Number
for ð and þ. (edh and thorn)
On your German keyboard it is probably even easier than
on mine. But I expect the idea is the same. I wonder
what the Icelandic keyboard is like?

Með kveðju Ketils.