Learning icelandic

First off I would like to say that I wasn't 100% sure where to put this as there is no language category but here goes anyway....

About a year ago I have being dabbling around learning icelandic in my own time, but now I am seriously considering learning the language as I'm thinking of moving there in the future. I don't want to go there completely ignorant of the language even though english is widely spoken.

Now given it's rep as one of the hardest languages to master, I would be happy to just be able to hold a conservation with people, be able to read a menu at a restaurant and telling the waiter what I want, you get the idea.

Since I have a better chance of winning the lotto than finding an icelandic teacher here, I'm going to attempt teaching myself. I'm thinking of getting Colloquial Icelandic: The Complete Course for Beginners by Daisy L Neijmann or Teach yourself icelandic by Hildur Jónsdóttir. I reckon a dictionary would be needed too? I will also be using the website icelandiconline.is as well as I found this to be really helpful when I used it before, but only went so far so I wish to finsih it. I'll also use online videos, read the news etc. as I become better. Thoughts on these?

I am studying ecology atm but I would like to specialise in art so I will be studying the language alongside the studies. I may not move for another 4 or 5 years so although I probably won't become fluent will it be long enough to know the basics?

Sorry for the long post, to break it down:

-Learning the language: good idea or bad idea?
-Are the icelandic books and website good enough to study?
-4/5 years: decent length of time or would I need more time?

EDIT: Almost forgot to say my name is deirdre and that any comments will be really appreciated!