Ah, hello Reykjavik my old friend, how nice to be back. Day one has been spent getting organised, visiting old friends and generally getting ready for the week ahead. Festival wristband is adorning my wrist with it's delightful bright pink shine, the press pass (how exciting!) is also bright pink. My colour luckily. The lovely iceblah flyers have been pleasingly popular, they are SO cute, do get your hands on them, there's 12 to collect. I've also visited the Grapevine offices to meet Birkir the editor who has arranged for me to interview Sprengjuhollin tomorrow for Friday's newspaper. I've warned him that I'm really not a 'proper' journalist but he's happy to wait and see… luckily they are a band I really like, and one of the few I haven't already interviewed over the last couple of weeks! I have an advance copy of their forthcoming second album which is currently blasting out in the flat. Sounds good – my very first reaction though was, "what a fabulous cover" which I'm reliably informed by iceblah's newly appointed art correspondent is a painting (right) by German artist Caspar David Friedrich.

I've also been visiting some friends and although the atmosphere in Reykjavik isn't obviously any different to normal after the recent financial mess I have already heard a couple of awful personal stories of rising debt, lost investments and huge rises in interest repayments. I'm pleased to say that in the main, the good old Icelandic black humour is beginning to shine through – does black humour shine?

Later, I went down to Mal & Menning bookshop to see FM Belfast which seemed like a good way to start the festival. Sadly, the line up had changed, but I did stick around to catch Rokkurro and then Mr Silla. And now it's all about planning a route around the first night's offerings. Certainly I'll start off by going down to the Project Iceland party where Ultra Mega Technobandid Stefan will be unleashing chaos (I hope) before heading off to hopefully catch Benni Hemm Hemm and their newest attempt to cram as many brass instruments onto a small stage as humanly (im)possible. Later tonight there are the usual tricky decisions to be made taking into account factors like venue size, cramming probability and likelihood of seeing bands again at their other festival or off-venue shows. So I may, or may not, see Hjaltalin, Retro Stefson, We Made God, Mammut, Jeff Who and finally Reykjavik! One thing's for sure there will be lots of good stuff to see and hear tonight. Oh, two things are for sure, the night ends with a pylsur (Icelandic magical amazing hot dog) Or two. See you out there.