Will this modules allow you to email many recipients...like thousands at the same time?

And if I understand it correctly, the variable created is sort of like a view - with different criteria and conditions - this variable is the body of the email? I want to send auto respond emails to new users, every other day based on where they are in a certain process. Some users may get email #4 for being at a certain point while others would get email #5. Can I do this?