Electronic newsletter

You could use Dreamweaver if you know HTML5 and CSS3--then there is software that mimics commercial services. If you have a large list, commercial sites are better than "run on your computer" software. 

No! Stick with MailChimp or Constant Contact. They are the proper tool.

Not... really. Mass email has become a minefield in that sending must go through an approved mass-mail service or only to opt-in recipients, and it's easy to get tagged as a spam source and suddenly have your company or domain email rejected from every direction.

So in general, services like MailChimp, ConstantContact, iContact etc. are the only option for companies not big enough to manage their own commercial mail service.

These services tend to be made for amateur/novice users who know little or nothing about design, HTML/CSS, graphics and the like and the reliance on using their provided "builder" tools and processes has become more rigid. Pros used to be able to build the mail in a more powerful tool and then import it to the service; that's gotten tougher and if I remember my last experience with a client's processes, impossible on some of the services.

I don't think Adobe tools can be used for anything beyond creating and optimizing graphic elements for these services, these days, but someone deeper into them with more recent experience (< 1 year) might have additional advice.

(Editorial: I really hate tools that have only the amateur/novice/E-Z interfaces and don't support advanced users. Powerpoint is the poster child here, but the mass mail services have moved into a close second.)