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I personally had the opportunity to fly WOW Air about a year and a half ago from Boston to Iceland. It provided as an extremely inexpensive way to visit Iceland and for a 5 hour flight, I thought it was perfectly fine. Yes, there is no business or first class, but I am a economy class girl anyways. When I flew, there was a charge for checked baggage, but a small carry-on bag was free. Since I wasn’t in Iceland for too long, a backpack was more then fine and I was able to get away with not paying any additional fees.
Unfortunately though, it seems like the airline has taken on the Spirit Air approach and even carry on bags come with a charge! You are still allowed a free small personal item (something that can fit under your seat, i.e., small backpack, pocketbook, laptop, etc.), but anything that requires you to store it in the overheard compartment will now cost you some extra money.
You can check out all baggage fees here. Paying for your baggage is significantly cheaper if you pay for it online. Personally, this will not stop me from flying WOW Air again, but the extra cost is something to take into consideration when comparing flight costs with another airline.