HTML/Graphic emails and newsletters look like web pages shown in the message/body area of the email, and can be much more compelling and professional than a standard plain-text email.

FiftyCrows
http://www.fiftycrows.org/emails/rentgallery/rent.html
http://www.fiftycrows.org/emails/workshops/email02.html
http://www.fiftycrows.org/emails/fineprints/email2.html
http://www.fiftycrows.org/emails/support/email5.html

SF Mosaic
http://sfmosaic.com/emails/2005-07/

Handlery Hotels
http://www.tzeldin.com/clients/handlery/email-blast/newsletter06/email06.html
http://www.tzeldin.com/clients/handlery/email-blast/newsletter05/

V-Comm Engineering
http://www.vcomm-eng.com/email_blast/2003-10/email.html
http://www.vcomm-eng.com/email_blast/2005-08/email.html

Amy Cooper
http://amycoopermusic.com/emails/2005-02-22.html