> Og sjá þú svo fyrir að hann er engi klektunarmaður og er
> því fangs von að frekum úlfi er hann er ef hann fær eigi
> þann áverka í fyrstunni er honum vinnist skjótt til bana."

> And so foresee that he is no chicken-hearted man and it is
> difficult to deal with a hungry wolf (glossed by Z. under
> "fang" 2) as he is if he wouldn't have made that illegal
> use of another man's lands af first when it didn't suffice
> to him speedy to kill. (??)

And take into account that he is no chickenhearted man, and
therefore (því) it is difficult to deal with [‘grappling is
to be expected of’] a hungry wolf, as he is, if he does not
in the beginning [‘at first’] get that wound that sufficed
to kill him.’

In other words, if you don’t kill him right away, you’re
going to be in real trouble.

> Og er þeir riðu ofan af heiðinni að bænum þá sáu þeir að
> Björn var úti á túnvelli og smíðaði vögur og var ekki
> manna hjá honum og engi vopn nema lítil öx og tálguhnífur
> mikill er hann hafði tekið með úr vagaborunum.

> And when they rode down from the district to the farm,
> then the saw that Bjorn was outside at (his) home field
> and was making a sledge and nobody was beside him and no
> weapon (beside him) except a small ax and a large carving
> knife that he had taken with (him) out (to? of?) the
> sledge-barrow (?).

And when they rode down off the heath to the farm, they saw
that Björn was outside in the home field and was building a
hand-barrow, and no one was near him and no weapon except a
little axe and a large carving knife, with which he had
carved [‘taken’] [wood] from the hand-barrow holes [used to
fasten it together].

> Hann var spannar fram frá hefti.

> It was a span (in length) forward from (the) haft (?).

It was a span forward from [the] haft [i.e., the blade was a
span in length].

> Björn sá að þeir Snorri goði riðu ofan af heiðinni og á
> völlinn.

> Bjorn saw that they, Chieftain Snorri (and his group),
> rode down from the district and to the field.

Björn saw that Snorri goði and his men rode down off the
heath and onto the field.

> Hann kenndi þegar mennina.

> He recognized the men at once.

He recognized the men at once.

> Snorri goði var í blárri kápu og reið fyrstur.

> Chieftain Snorri was (dressed) in a blue cape and rode in
> front.

Snorri goði was in a blue hooded cloak and rode in front.

> Það var fangaráð Bjarnar að hann tók hnífinn og gekk
> snúðigt í móti þeim.

> It was Bjorn's expedient (i.e., the plan he came up with)
> that he took the knife and went swiftly toward them.

It was Björn’s stratagem that he took the knife and went
swiftly towards them.

> Hann tók annarri hendi í kápuermina er þeir Snorri fundust
> en annarri hendi hnefaði hann hnífinn og hélt sem honum
> var hægst að leggja fyrir brjóst Snorra ef honum sýndist
> það ráð.

> He took in one hand the sleeve of a cloak when they,
> Snorri (and friends) met (him), and in the other hand he
> had the knife and held (it) as to him was the most most
> convenient to stab at Snorri's chest if it seemed
> advisable to him.

In one hand he took the cloak sleeve when he and Snorri met,
and with the other hand he grasped the knife and held [it]
as was most convenient for him to thrust through Snorri’s
breast if that seemed advisable to him.

I’m pretty sure that <þeir> refers to Björn and Snorri.

> Björn heilsaði þeim þegar þeir fundust en Snorri tók
> kveðju hans en Mávi féllust hendur því að honum þótti
> Björn skjótlegur til meins við Snorra ef honum væri nokkuð
> gert til ófriðar.

> Bjorn greeted them at once they met and Snorri received
> his greetings and Mavi's hand failed (???) because it
> seemed to him (that) Bjorn (was) quick to harm against
> Snorri if to him were somewhat prepared for hostilities.

Björn greeted them as soon as they met, and Snorri replied
to his greeting, but Már dropped his hands [‘to Már (the)
hands were dropped’, more or less], for it seemed to him
that Björn quick to harm Snorri if anything were done to him
by way of hostilities.

For ‘replied to his greeting’ I’m relying on an editorial
note in another edition. <Mávi> is the dative of <Már>.

> Síðan sneri Björn á leið með þeim Snorra goða og spurði
> almæltra tíðinda og hélt þeim tökum er hann fékk í
> fyrstunni.

> Then Bjorn turned (the) road with them, Chieftain Snorri
> (et al) and asked about news that everyone was talking
> about and held them hold (?) when he got at first (?).

Then Björn turned on the road with Snorri and his companions
and asked for the common news and retained the grips that he
got in the beginning.

<Tökum> is the dative plural of <tak> 'hold, grasp, grip'.
In other words, Björn is still in a position to kill Snorri
if things go badly.

> Síðan tók Björn til orða: "Svo er háttað Snorri bóndi að
> eg dylst eigi við að eg hafi gert þá hluti til yðvar er
> þér megið vel sakir á gefa og mér er það sagt að þér hafið
> þungan huga til mín.

> Then Bjorn began to talk" "Farmer Snorri is so conditioned
> that I don't refuse to acknowledge that I have then done a
> part to you when you are well able to make charges and it
> is said to me that you have a burden intended for me.

Then Björn began to speak: ‘It so happened, Master Snorri,
that I do not refuse to acknowledge that I have done that
thing to you that you may well make an accusation of [it],
and it said to me that you bear a grudge against me.

> Nú er mér best að skapi," segir hann, "ef þér eigið nokkur
> erindi við mig önnur en að koma hér um farinn veg að þér
> lýsið yfir því.

> Now it is to me best to separate," he says, "if you had
> some errand against me other than to come here gone a way
> that you made it known.

Now it pleases me most [‘is most to my mind’],’ he says, ‘if
you have some business with me other than to come here along
the main [‘travelled’] road, that you make it known.

In other words, if our meeting here isn’t just coincidence
owing to the fact that you’re taking this route, then I want
to know just what business you have with me.

> En ef það er eigi þá vil eg að þér játið mér griðum og vil
> eg snúa aftur því að eg er eigi leiðifífl."

> And if that is not (so), then I want you say yes peace to
> me and I went to turn back because I am not a fool to be
> led about."

And if that is not [the case], then I want you to promise me
a truce, and I will turn back, for I am not a fool to be led
about.’

See <játa> Z4. In other words, if you don’t actually have
any business with me, ... .

Brian