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I have used PHPlist on dedicated servers hosted elsewhere - It is a great program, but users must educate themselves. For several reasons - server load and spam related - it is best to throttle the program back to send only a few hundred e-mails per hour. Most of my usage was for lists of only a few thousand at most, and I was sending regularly-scheduled newsletters. It didn't matter if it took several hours to send them all out.
Having PHPlist on a shared server runs the risk of the entire server (IP address) being put in a blacklist... From home, I send e-mail via my ISP, so would only notice being blacklisted when I'm travelling...
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