eNewsletter / Mailing Software

We're currently using Etneral Mart Software (http://www.eternalmart.com/) - and to be honest we need to move on to a better system. EMML doesn't do all the things we need, and I would like your suggestions on better mailing list / eNewsletter mailing software.

Essentially it needs to:
1) Handle bounce-backs - in a report style so we can decide what to do with it
2) Handle large amounts of lists, emails (EMML does this, but very slowly)
3) Personalisation
4) Stats on click-throughs or link-tracking - stats on open-rates.
5) The ability to import/export email subscriber lists (EMML does this, but cannot handle more than 150 imports at a time).
6) Be cheap (free is better)

At the moment the best I've seen is: 1-2-All Broadcast Email (http://www.activecampaign.com/12all/index.php?p=) but that is not free.