I used PEAR Mail_Queue to post 200,000 + mails at a time. Filling the database is quick and easy, even with customized content, and then a fairly simple script sends about 250 times - if the average load is not too large. Then he moves and sends the next batch.
You will not send them faster than usual, but it will do without problems.
The tutorial gives you almost everything you need - just go around the "send_messages.php" script (better from the command line) until the database queue is empty.
Alister bulman
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