Email marketing is still one good way to make money online. I know some Internet marketers who do not mail to their list because they are afraid they will lose subscribers if they send out to many emails. To that I say what is the point of having an email list if you are afraid to mail to it.
If you find yourself in this situation I would suggest you get more subscribers. I personally have never been afraid to mail my list because if someone doesn't want to be on it I actually encouraged themn to unsubscribe.
Another thing is some people are afraid to email because they're going to get complaints. I personally use Aweber to manage my list and do get some complaints whenever I send an email out to my list of over 25,000 people.
Granted 25,000 subscribers is a large list, bigger than most, smaller than some. When you have that many people receiving an email on a regular basis you're bound to get some complaints.
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