I've used e-mail marketing on all of my mainstream sites with results similar to the ones you outline, but I've been skittish about using it for my one adult site for the reason Kolargal mentions. One of my mainstream sites, a daily spiritual suggestion site, was briefly crippled when a malicious subscriber set up numerous subscriptions through numerous @MSN accounts then marked all the e-mails as spam. I had to change IP's, do some extra validation with my sign-up script, and rewrite my Privacy Policy to reflect the additional information I was collecting for validation (which still isn't a 100% guarantee it won't happen again).
This was an inconvenience for a mainstream site; it could have ended up a legal exposure for an adult site. The state of Florida is starting to become meanspirited toward adult, ignoring the letter of their own law to get a righteous sounding headline. If I do decide to do adult e-mail in the future, it will definitely be third party, to limit exposure as much as possible.
That said, yes, it does bring great results. And as a sidenote, I've also gotten a lot of mileage out of, "HI! WANNA FUCK?" ;)
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