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1-Day Icelandair Stopover – Worth It?

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I am supposed to go to Europe in August, and Icelandair has the cheapest flights. Right now it looks like I could arrange my flights so that I can have either an 8-hour layover or a 24- to 32-hour stopover.

If I just do the layover I would still rather go into Reykjavik than to the Blue Lagoon.

SO - is the extra time gained by the stopover worth the added expense (hotel; additional meals; maybe Golden Circle tour by rental car or bus; etc.)?

Also, airfare Boston-Scandinavia is running about $760 right now on Icelandair. Obviously, nobody knows for sure what prices will do in the coming months, but does that seem like a good deal, or is it reasonable to expect it to drop?

Thanks!

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