Finally!!  I'm still not paying too much attention to verb tenses -- they all end up past tense in the translation anyway, but if anyone wants to correct them, I'll have it for reference later on......
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Hann spurði alla sauðarmenn at seljum,
he - asked - all - shepherds - at - shielings
He asked all the shepherds at the shielings
 
ef nõkkurr hefði sét þetta fé, ok kvazk engi sét hafa.
if - anyone - had - seen - these - livestock - but - says - no one - seen - has
whether anyone had seen the sheep, but no one had seen them.
 
Einarr reið Freyfaxa allt frá eldingu ok til miðs aptans.
Einarr - rode - Freyfaxi - all - from - dawn - and - to - mid - evening
Einar rode Freyfaxi from daybreak until the middle of the evening.
[Note:  Gordon says "miðr aptann" is 6 pm.]
 
Hestrinn bar hann skjótt yfir ok víða,
the horse - bore - him - quickly - over/across - and - widely
The horse carried him fast and over a wide area,
 
því at hestrinn var góðr af sér.
since - the horse - was - generous - with - himself
because the horse was willing to go all-out.
 
Einari kom þat í hug, at honum mundi mál heim
to Einarr - came - it - to - mind - that - to him - must be - time - towards home
Einar decided that it was time to head home
 
ok reka þat fyrst heim, sem heima var,
and - drive - that - first - in - which - at home - was
and round up the (sheep) that were at home first,
 
þótt hann fyndi hitt eigi.
even if - he - found - the other - not
even if he did not find the others.
 
Reið hann þá austr yfir hálsa í Hrafnkelsdal.
rode - he - then - eastwards - over/across - ridges - toward - Hrafnkelsdalr
He then rode east over the ridges towards Hrafnkelsdal.
 
En er hann kemr ofan at Grjótteigi,
but - when - he - came - down - to - Grjótteigr
But when he came down to Grjotteig,
 
heyrir hann sauðarjarm fram með gilinu,
hears - he - bleating of sheep - from - along - the ravine
he heard the sound of bleating coming from the ravine
 
þangat sem hann hafði fram riðit áðr.
thither - which - he - had - in front of - ridden - before
which he had ridden past earlier.
 
Snýr hann þangat til ok sér renna í móti sér þrjá tigu ásauðar,
turns - he - thither - towards - and - sees - running - to - meet - himself - three - ten - of ewe
He turned towards this (ravine) and saw thirty ewes running to meet him,
 
þat sama sem hann vantat hafði áðr viku,
that - same - which - he - been lacking - had - before - week
the same ones that he had been missing for the previous week,
 
ok støkkði hann því heim með fénu.
and - drove - he - it - homewards - with - the livestock
and he drove them home along with the (other) sheep.
 
 
Hestrinn var vátr allr af sveita, svá at draup ór hverju hári hans,
the stallion - was - wet - with - sweat - so - that - dripped - from - every - hair - of his
The stallion was wet with sweat, so that it dripped from every hair.
 
var mjõk leirstokkinn ok móðr mjõk ákafliga.
was - much - mud-bespattered - and - weary - much - exceedingly
He was very splattered with mud and completely exhausted.
 
Hann veltisk nõkkurum tólf sinnum,
he - rolls over - some - twelve - times
He rolled over some twelve times,
 
ok eptir þat setr hann upp hnegg mikit.
and - after - that - set - he - up - neighing - great
and then he stood up with a great neigh,
 
Siðan tekr hann á mikilli rás ofan eptir gõtunum.
afterwards - takes - he - in - great - rush - down - after - the path/road
and took off at great speed down the path.
 
Einarr snýr eptir honum ok vill komask fyrir hestinn
Einarr - went - after - him - and - wanting - to come - in front of - the stallion
Einar went after him and wanted to head off the stallion
 
ok vildi hõndla hann ok fœra (foera) hann aptr til hrossa,
and - wanted - to lay hands on - him - and - bring - him - back - to - mares
and catch him and bring him back to the mares,
 
en hann var svá styggr, at Einarr komsk hvergi í nándir honum.
but - he - was - so - shy - that - Einarr - came - nowhere - in - proximity - to him
but he was so shy that Einar could get nowhere near him.
 
Hestrinn hleypr ofan eptir dalnum ok nemr eigi stað,
the stallion - galloped - down - along - the valley - and - halted - no - place
The stallion galloped down the valley and did not stop
 
fyrr en hann kemr á Aðalból.
until - he - came - to - Aðalból
until he came to Adalbol.
 
Þá sat Hrafnkell yfir borðum.
there - sat - Hrafnkell - over - boards
Hrafnkel was eating dinner.
 
Ok er hestrinn kemr fyrir dyrr, hneggjaði hann þá hátt.
and - when - the stallion - came - in front of - doorway - neighed - he - then - loudly
And when the stallion reached the door, he neighed loudly.
 
Hrafnkell mælti við eina konu, þá sem þjónaði fyrir borðinu,
Hrafnkell - said - to - one - woman - who - served - before - the table
Hrafnkel told one of the women who was serving at the table,
 
at hon skyldi fara til duranna, því at hross hneggjaði,
that - she - should - go - to - the door - because - a horse - neighed
that she should go to the door, because a horse neighed
 
--'ok þótti mér líkt vera gnegg Freyfaxa.'
and - seemed - to me - like - it is - neigh - of Freyfaxi
--"and it sounded to me like the neigh of Freyfaxi."
 
Hon gengr fram í dyrrnar ok sér Freyfaxa mjõk ókræsiligan.
she - went - away - to - the doorway - and - saw - Freyfaxi - much - dirty
She went to the door and saw a very dirty Freyfaxi.
 
Hon sagði Hrafnkeli,
she - said - to Hrafnkell
She said to Hrafnkel,
 
at Freyfaxi var fyrir durum úti, mjõk óþokkuligr.
that - Freyfaxi - was - in front of - doorway - outside - much - dirty
that Freyfaxi was outside in front of the door, thoroughly filthy.