I "inherited" MadMimi when I took over communications for the Ozark Arts Council and, having managed email lists for over 20 years now, I wasn't originally all that thrilled. Getting information that had to get sent out 1) quickly AND 2) attractively, however, made me start to appreciate MM, though. To be able to have a slick little newsletter with photos from an upcoming play or concert in just a few minutes is massively important when most of the people putting things together are volunteers with full time jobs and families unrelated to the Arts Council (as do I).
The software is entirely web-based, which means that sometimes when a new feature is introduced it may not quite look right in Safari, but probably will in Chrome but even then, since there are not a lot of standard layout options (TOC, Section Title, Text, Image + Text, Text + Image, and Image), you can still compose well enough. Usually, anything I've seen that way is cleared up in a day or so. I have composed in Safari, Firefox, and Chrome on a Mac, Chrome on a Chromebook, Firefox and Chrome while running Ubuntu, Firefox and IE under Windows, and it's a consistent experience as web-based software should be. One thing: since it IS web-based, you have to remember to save often.
Text styling options can be keyboard-invoked (bold, italic), and there are both a variety of themes that can be used and some basic formatting (centered text, ordered and unordered lists, two levels of headings), as well as a link tool (setext links, rather than HTML).
For the most part, that will take care of what you need for e-newsletters that don't need to be PDFs or fully functioning web pages. Yet, that's not all it can do, if you have basic HTML knowledge. Before they provided a TOC (self-created whenever you click on the TOC tool in a Title section), you could make your own (still can) by setting an anchor and then calling it from a text section at the beginning of the document. Similarly, if you need "columns," you can fake it by creating a table in a text section, etc. Not all HTML is likely to be supported, but then again, what you're creating is supposed to be read easily within an email app, not a web browser.
Beyond composition, you are paying for a list server that sends quickly, provides good statistical information (who clicked which links, etc.), and keeps you from having to deal with maintaining an email server's "reputation."
Facebook allows boosting linked MMs, even when mostly text.
Ease of use; able to customize with HTML; acceptability to Facebook for advertising even when mainly text.
Lack of automatic save.
Value for money
Ease of use
Likelihood to recommend: 10/10