JAKOB NIELSEN has long ranted about search engines being leeches of the internet. He sees electronic newsletters as being a vital way of reducing a company's dependency on search engines. While I don't buy his overall conclusion, his adamant perspective does explain why many marketing consultants are so hard-set on the critical nature of HTML e-mail products.
Jakob Nielsen -- "Search Engines as Leeches of the Web"
denise cox -- "How eMail Newsletters Can Offer Good eROI"