In recent years, Iceland has been churning out the latest and greatest in music (think Sigur Ros, Bjork, Of Monsters And Men). Ivar Pall Jonsson intends to follow in their footsteps. Next week, the composer will release Revolution In The Elbow Of Ragnar Agnarsson Furniture Painter, a rock concept album that is in production as an off-Broadway musical of the same name this August. The album features music about Elbowville, its inhabitants, and as much love, betrayal and chaos that can occur within their microcosmic universe, literally located in a furniture painter’s elbow. An album release party will be held for the public July 15 at Rockwood Music Hall on the Lower East Side.