Mass Emailing System

We are looking for a web based system from where we can keep multiple Address Book of Contacts & Newsletters/ emails. Each Address book will have categories of contacts to whom we can send respective News Letter & emails. The system should be easy to use & should manage the Newsletter? subscription as well i.e. if any one wish to? unsubscribe? from emails then there should be system to manage. We also need detailed reporting like when the mail was delivered & When it was read etc. System should also send? personalized messages like Extracting Contact Name & fill in Content like Dear Mr. < XYZ> to respective emails. Most important thing it should be capable of mass emailing & will prefer that it delivers in users INBOX not as SPAM, Please mention if server? restrictions of sending limit will effect the system.? If you have existing one, please send the details.