"Just a few kilometers east of Höfn you will go up over an obvious pass and at the summit of the pass on the right side of the road is a small parking area with a viewpoint and marker. Park here."
This pass has been eliminated with a tunnel. When we went through in Sept. 2013, the gravel road leading to the pass on the west side was closed to vehicle traffic. I was not able to observe the road to the pass on the east side, so I don't know if it is also closed. So, you should be prepared for some additional hiking and vertical on the approach.
Thanks very much for the updated info, Fred.