There are no good free bulk mailers/mail list managers. The good ones all cost money. Be prepared to spend well over $100.
Dynamic Mail communicator from Apex Pacific is good, and so is the
Lencom FEDE. Both have bugs, but are manageable. Dynamic can't handle
views in SQL server, which is a pain. Lencom has a couple bugs too, but
is far more powerful than a lot of other ones out there. Both do HTML
and Text.
If you find anything for free, let me know. I've never seen a good one
that is free. All the cheap or free ones I've seen are complete crap.
Any email program you use should do the following:
- Use an SMTP server that is properly configured (i.e. not full SMTP) **** THIS IS IMPORTANT
- Both text and HTML emails (multi-part alternative)
- Embedded images - i.e. not lazy html
- Full personalization from a data source, e.g. MSSQL Server, MYSQL, Access, Excel (yuck), etc.
That is the proper way to send email. Anything else will throw up spam
flags. If you are looking to spam, then I have no help to offer.
I do bulk emails to existing customers and my ONLY problems come from
other people managing the SMTP servers and screwing up on that end.

Which makes me more than a bit miffed. Generally, I have zero returned
emails when I get my way. [I'm still working on getting a decent SMTP
server that is properly configured... grrr... argh...]