As a Liverpool fan and someone who seems to have the same needs as yourself in attracting folk back into the fold, I thought it would be worth resurrecting this thread and sharing how I propose to use this mod.
Firstly, I would suggest updating SMF to 2.x if you've not done so already.
I should say that I am also very much against unsolicited email, as are many of my members of which I have some 13,000, but a couple of years ago now I made it a condition of registering that they accept ad-hoc emails from us. This is compliant as far as the law is concerned, just about, but not ideal so I wanted to have a positive "subscribe/un-subscribe" option so the way I'm going to do it is to send out an email to all 13,000+ members via the SMF internal capability announcing the new newsletter function and inviting them to subscribe on the new system.
Once installed, I need to have a close look at its capabilities - it looks to me like it sends-out a collection of links to topics etc. on boards you can select/de-select but I can't see an option for customising it as a proper "html newsletter" but then again, we're no strangers to customising templates so we may be able to do what we need. I'[ll report back once we've done some testing.