Email Newsletters vs. Blogs vs. RSS

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Scott Allen posted this question on LinkedIn the other day – but I wondered if any of you had answers for him?

What’s the best way to build an e-mail newsletter from a blog?

Once my coauthor and I started blogging, we quit doing our regular e-mail newsletter — it was just too much of a hassle to maintain on top of our blogging efforts. However, we also know that we lost some people in the process who aren’t full up on blogging.

I’d really like to be able to better support people who are more comfortable with e-mail, but build the content from my blog. I don’t want to send people every post, or even a complete daily digest. Ideally, I would like a tool that every time I was ready to put together a newsletter, it would give me a picklist of the posts from my blog, I would choose 3, 5, 10, whatever, and then give a personal intro for the whole newsletter.

Does anything like this exist? What’s even close that I might look at?