Hi Teitur,
You guessed right, pointless to polybush the stock arms when you can fit the proper solid bearing adjustable arms. They make the single biggest improvement to the front suspension of an R32, and obviously allow you to set the camber exactly how you want.
Nope you don't have to pay VAT, once you put your order through the online shop and tell it you're in Iceland, it'll take the VAT off. So that would make them £157.45 plus delivery, and obviously any import duty that you get charged when they enter Iceland.