Comments in double brackets [[like this]] were what I was able to pick up from Grace's translation.
JÓÐI HÉT MAÐR, sonr Gormóar.
A man, son of Gorm, was named Yoda
Jóði var maðr lítill, en svá sterkr, at eigi váru hans jafningjar.
Yoda was a little man, but so strong that none were his equal. (lit. equals)
En er hann var á unga aldri, lá hann í víkingu ok herjaði.
And when he was at a young age, he was engaged in freebooting and harrying.
Með honum var í félagsskap sá maðr, er kallaðr var Vindú, gÇ«fugr maðr ok inn mesti afreksmaðr at afli ok áræði.
With him in partnership was the man who is called Vind, a noble man and the most valiant-man in might and courage.
Hann var berserkr.
He was a berserker.
Þeir Jóði áttu einn sjóð báðir, ok var með þeim in kærsta vinátta.
They had a common purse and closest friendship was with them.
Jóði átti einn son.
Yoda had a son.
Hét hann Dúkú.
He was named Duke.
Dúkú var svartr maðr ok ljótr, líkr feðr sínum bæði yfirlits ok at skaplyndi.
Duke was a dark man and ugly, like his father both (in) appearance and disposition.
Gerðist hann umsýslumaðr mikill.
He became an active man.
Hann var hagr maðr á tré ok járn ok gerðist inn mesti smiðr.
He was a handy man with wood and iron and became the most (accomplished) smith. (better translated as "smith and carpenter")
En er Dúkú var á tvítugs aldri, þá bjósk hann í hernað.
And when Duke was 20 years old, he then got ready for plundering.
Fekk Jóði honum langskip.
Yoda got him a longship.
Til þeirar ferðar réðusk synir Vindús þeir hÇ«fðu lið mikit ok annat langskip ok fóru um sumarit í víking ok Ç«fluðu sér fjár ok hÇ«fðu hlutskipti mikit.
Vindu's sons advised concerning [[apparently, this means the "sons joined"]] their journeys - they had many people and another longship and went freebooting the summer and earned a fortune and had a lot of booty.
Þat var nÇ«kkur sumur, er þeir lágu í víking, en váru heima um vetrum með feðrum sínum.
That was one summer, that they went freebooting, but spring [["but stayed at"]] at home a year (or "winter") with their fathers.
Hafði Dúkú heim marga dýrgripi ok frði feðr sínum.
Duke had (at) home many treasures and saved his father's life.
Var þá bæði gott til fjár ok mannvirðingar.
There was both ample wealth and fame to earn. (Z. góðr 4)
Jóði var þá mjÇ«k á efra aldri, en sonr hans var roskinn.
Yoda was then very advanced in years, and his son was full-grown.
Falfaðinn hét herkonungr, er kallaðr var Falfaðinn eldingaflug.
A warrior-king was named Falfadin, who was called Falfadin lightening flash.
Hann gerðist konungr yfir Kóruskantborg í Nóregi, ok hét þessu, at hann myndi verða einvaldskonungr yfir Nóregi.
He became king over Koruskantborg in Norway, and was called this [["and promised this"]], as [["that"]] he longed to become absolute-king over Norway.
Falfaðinn konungr lá með her sinn í JeðifjÇ«rðum.
King Falfadin went with his army in Jedi fiord.
Hann sendi menn þar um land á fund þeira manna, er eigi hÇ«fðu komit til hans, er hann þóttisk erendi við eiga.
He sent men there on land to meet their man, who hadn't come to him, who was thought to be on a mission. [???] [[more like "...meet the men who hadn't come to him, who he thought to have business with."]]
Konungs sendimenn kómu til Jóða ok fengu þar góðar viðtÇ«kur.
(The) king's messengers came to Yoda and received a warm welcome.
Þeir báru upp erendi sín, sÇ«gðu, at konungr vildi, at Jóði kæmi á fund hans.
They brought up their errand, said that (the) king wanted that Yoda come to meet him.
"Hann hefir," sÇ«gðu þeir, "spurn af, at þú ert gÇ«fugr maðr ok stórættaðr.
"He has," they say, "asked if you are a noble man and high-born. [["He has," they said, "news that you are..."]]
Muntu eiga kost af honum virðingar mikillar.
He will have the opportunity of much esteem.
Er konungi mikit kapp á því at hafa með sér þá menn, at hann spyrr, at afreksmenn eru at afli ok hreysti."
The king is very eager therefor to have with him, then, men, that he asks that valiant-men be might and valor." [["...that he hears are valiant-men in might and valor."]]
Jóði svarar, sagði, at hann var þá gamall, svá at hann var þá ekki til frr at vera úti á herskipum.
Yoda answers, said that he was then old, so that he was then not able to be out on a warship.
"Mun ek nú heima sitja ok láta af at þjóna konungum."
I will now sit at home and cease to serve (the) king.
Sendimenn fóru í brott, en er þeir kómu til konungs, sÇ«gðu þeir honum allt þat, er Jóðí hafði rætt fyrir þeim.
The messengers went immediately, and when they came to (the) king, they told him all that Yoda had spoken before them.
Konungr varð við styggr ok mælti um nÇ«kkurum orðum, sagði, at þeir myndi vera menn stórlátir, eða hvat þeir myndi fyrir ætlast.
(The) king became angry and spoke some words, said that they would be haughty men or that they intended to do something. (I assume this last part means "...or that they had something up their sleeves")
Maul rauði var þá nær staddr ok bað konung vera eigi reiðan.
Maul the red was then nearby and bade (the) king not to be angry.
"Ek mun fara á fund Jóða, ok mun hann vilja fara á fund yðvarn, þegar er hann veit, at yðr þykkir máli skipta."
"I will go to visit Yoda, and he will want to visit you, as soon as he knows that you are thinking (about) a sharing agreement." [[I see Grace's translation has "that it seems to be of importance to you."]]
Síðan fór Maul á fund Jóða ok sagði honum, at konungr var reiðr ok eigi myndi duga, nema annarr hvárr þeira feðga fri til konungs, ok sagði, at þeir myndi fá virðing mikla af konungi, ef þeir vildi hann þýðask, sagði frá mikit, sem satt var, at konungr var góðr mÇ«nnum sínum bæði til fjár ok metnaðar.
Then Maul went to visit Yoda and told him that (the) king was angry and (in) no shape to help unless each of the two fathers and sons goes to the king and said that they would a lot of honor from the king if they would associate with him, (he) talked about a lot, that (the) truth was that the king was a good man both concerning money and ambition. [[apparently this is that the king was good to his men rather than the king was a good man]]