Attached is the code for a potential new module for email newsletters (everything has .txt appended to the filename so I can attach it). It's called SunMailer; the code is based on the module The Cornell Daily Sun currently uses to send out its email newsletter.
The architecture is based on 3 components: Views, PHPMailer, and PHP's XSL module. SunMailer uses views to select content for the email newsletter. It then outputs basic information about this content (title, author, link, teaser) in an XML format. XSL files then translate this into both a text and HTML format (with the option of adding more XSL files for new designs), and PHPMailer is used to send the emails themselves. There's a lot more to it than that, as I've added all sorts of bells and whistles over time based on how the module was used by The Sun, but that's the basic intro.
In terms of a version 1.0 release, I don't want to focus too much on adding new features, though I would want to improve Views integration for future releases; my main priority is to polish the feature set that exists. A lot of the work I've done before posting this involved building a UI for certain components of Sunmailer. The main work items I'm looking to achieve now are:
- Help and User Documentation
- Tests with Simpletest
- Alternate text body for HTML emails (shouldn't be too hard)
- t(), double-checking security, and other Drupalish things
Any thoughts on where I should go next? Feel free to critique this module, as there will be room for growth as it potentially expands to a much wider audience. I have a CVS account lying somewhere, so I can get this code checked in if that would make sense.

Comments
Code Checked In to CVS
I recently checked the code in to CVS and am actively working on it. If you want to download and try the module, you can do so at http://drupal.org/project/sunmailer. There's just a 6.x dev branch right now, but the dev should actually be pretty stable.
Version 1.0
SunMailer has hit the version 1.0 milestone today.