Oh, I hate how "hell" has become...
In my religion Hel (Helheimr) is the land of the dead. This is also where the word "Hell" comes from. In my personal belief, Hel is where all the dead reside, even those who died in battle, and Valhalla is Odin's hall in Hel. There is no punishment - certainly not eternal - in Hel, and not even punishment in Nastrond (yes, I am aware of what is written in the Prose Edda). Rather, our punishments come in whatever shames we leave behind, for so long as that memory persists.