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Probably not the best but PHPList certainly does the job and is fairly cheap. The issue with direct e-mail marketing is that you have to make sure you manage your lists correctly. Start sending mail out to someone who didn't request it and you will get in hot water very quickly.
"Double opt-in" lists are the best (where the surfer signs up and is then asked to confirm via a link sent to his e-mail). You then also have to give them an easy way to unsubscribe at any time. Done properly you can earn good money at it, but done wrong your ISP will probably terminate your internet connection - lol!
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