Þeir frétta nú, at þeir eru við land komnir Hárekr konungr ok synir hans, ok var nú eigi þusulaust. 

They now hear, that Harek and his sons had come by land, and it was now not without tumult.    (Apparently, þusulaust = þausnalauss)

Lét Herrauðr nú leggja út skipum sínum á móti þeim; hafði hann lið mikit ok frítt ok þó miklu minna en þeir Hárekr. 

Herraudr now had (them) sail out against them; he had a large, fine body of men and yet many fewer than Harekr.

Lagði sínu skipi á móti konungi Smiðr Þvarason, en Bósi móti Hræreki, Herrauðr á móti Siggeiri, ok þurfti þar eigi at sökum at spyrja, ok tekst með þeim bardagi mjök harðr, ok váru hvárirtveggju inir áköfustu.

His ship attacked King Smidr, son of Thvar, and Bosi against Hraereki, Herraudr against Siggeir, and it wasn't necessary there to inquire about the reasons, and a much harder battle began between them, and both of them were the most vehement.

Ok er bardaginn hafði eigi lengi staðit, réð Siggeirr til uppgöngu á skip Herrauðs ok varð skjótt mannsbani. 

And when the battle hadn't lasted long, Siggeir rushed in upon the boarding of Herraudr's ship and there slaughter at once.

Sniðill hét stafnbúi Herrauðar. 

Herraudr's forecastle-man was named Snidill.

Hann skaut spjóti at Siggeiri. 

He shot a spear at Siggeir.

Hann tók spjótit á lofti ok skaut aftr at þeim, er sendi. 

He caught the spear in the air and shot (it) back at them, (they) who threw it.

Spjótit flaug í gegnum Sniðil ok svá langt í skipsstafninn, at hann nisti hann þar við. 

The spear flew through Snidil and so long into the ship's stem that it pinned him there against (the ship).

Herrauðr sneri nú í móti Siggeiri ok leggr til hans með atgeir, svá at gekk í gegnum skjöldinn, en Siggeirr snaraði svá hart skjöldinn, at Herrauði varð lauss atgeirrinn, en hann hjó til Herrauðar, ok kom á hjálminn ok tók af fjórðunginn, ok fylgdi þar it hægra eyrat. 

Herraudr now turned against Siggeir and thrusts at him with a halberd, so that it went through the shield, but Siggeirr twisted the shield so hard, that the halberd got loose from Herraudr, and it landed on his helmet and took off a quarter (of it), and his right ear accompanied it there.     (Z. lauss 1: verða lauss = to get loose)

En Herrauðr greip upp eina stóra ruddu af þiljunum ok laust á nasir honum, svá at hjálmblikit gekk at andlitinu, ok brotnaði í honum nefit ok ór honum allar tennrnar, ok stökk hann öfugr aftr á skip sitt ok fell þá í óvit ok lá mjök lengi.

But Herraudr caught up a large plank (for a) club and struck at his nose, so that the helmet visor went into his face and broke his nose and all his teeth out of him, and he fled back backward (?) to his ship, and he fell unconscious and lay very long.

Smiðr barðist drengiliga. 

Smidr fought nobley.

Hárekr konungr komst upp á skip hans við tólfta mann ok ryðst um fast. 

King Harekr arrived up at his ship with 11 men and quickly cleared his way.

Smiðr snýr nú á mót honum ok hjó til hans með saxi því, sem Busla kerling hafði gefit honum, því at hann bitu eigi atkvæðalaus vápn. 

Smidr now turns against him and hacked at him with the the ax, which the old woman Busla had given him, because weapons of no consequence did not cut him.

Höggit kom framan um þverar tennrnar, ok brotnuðu þær ór honum allar, gómbeinit brotnaði ok varrirnar sprungu báðar, ok hljóp þar ór blóð mikit. 

The blow landed on the front across his teeth, and they all broke out of him, his jawbone (literally "bone of the floor of his mouth") broke and both his lips burst, and much blood ran out of there.

En við þetta högg brá honum svá, at hann varð at flugdreka ok spjó eitri yfir skipit, ok fengu margir menn bana. 

But with this blow it so altered him, that he became a flying dragon, and he spewed poison over the ships, and many men suffered death.  (I am assuming that the reason we don't hear about ax blows causing people to be turned into poison-spewing flying dragons these days is that ax fights have all but disappeared.)

Hann steypti sér niðr at Smið ok gleypti hann ok svelgir honum niðr í sik.

He threw himself down at Smid and swallowed him and swallowed him down inside him.