I send out anywhere from 3 to 6 automated emails every Friday afternoon to a list of around 35 people using Mail::Sendmail. It's very slow but so far it's never failed. I'm more concerned with the receiving server bouncing the message because the pager it's going to can only handle so many characters.
At least you can pull the addresses from a MySQL database... I have to parse an Excel spreadsheet to get mine. That might actually be why it's so slow. ;)
I think I'll look at Mail::Bulkmail. Who knows, maybe it's exactly what I need.