We have sent our newsletters on a monthly basis to keep customers updated on any changes or promotions. Feedback for the last 6 months is positive and customers do have the option to turn it off if they wish.
We send out newsletters quarterly, with news, tutorials, and upcoming events or improvement cycles. I do offer opt-out options for those who do not want it (because I completely understand that!); but I'd say we have probably a 70-80 percent opt in. Who knows if they all read it though!
I don't know if I would send newsletters or not. They can be created easy enough in Microsoft Publisher. I used to make a monthly one at one company where I used to work. It was fun. If you don't want to use Microsoft or can't afford it there is Open Office Draw which I use at home and works almost as well.