a lot will be decided by the details that you have not shown/investigated so far....the devil is in the detail, so to speak. For example, if some (or even one) of your clients still uses some shabby old PC with low res screen and an old version of Adobe Reader, then they won't get to read the newsletter unless created with backwards PDF compatibility is taken care of. Some email clients may try to display email/PDF attachment with their own inline reader egnine, and it may not render well or at all, depending on how well the PDF is crafted. Maybe some of your clients want to read the newsletter email on their usual choice for email reading, such as a Blackburry or such. Design for your audience making as few assumptions as possible OR you run the risk of having a beaut program that they don't/can't use for whatever reason.