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While email marketing is all the rage now, I honestly believe print will see a resurgence. At a minimum with a print newsletter, people are going to at least see your logo/photo, etc. when taking it out of the mail.
I have to agree with that. Although emailing newsletters is easy and certainly cheaper than snail mail, I don't think it works for about 90% of the folks out there.
For example, I subscribed to the newsletter of a very knowledgeable lawyer/investment advisor. His newsletter comes out weekly on Fridays (a mistake, in my opinion. Friday is the second worst day of the week to send email). Anyway, that was about a year ago and I have never opened a single one of his emails except maybe the first one.