Mark, have you checked out mailchimp.com? It lets you design your html newsletters, send your newsletters using their servers, manage your contacts, and keep statistics on who clicks what. It's free, too, unless you have more than 1,000 contacts.

If you'd rather do things yourself, you could use the CoffeeCup HTML Editor. It's $49 with a free trial. I've never used it but I've seen it recommended as a Dreamweaver alternative.