I think two key elements from their implementation, which I would not suggest copying for your implementation, are<p>1) Don't tell people you want their email address because you want to mail them.<p>and<p>2) Ask them for their friend's email addresses, too, and see #1.<p>If you try pulling either of these stunts, most reputable mailing providers are going to hit you with the banhammer. You'll have deserved it, too. If, on the other hand, you a) tell people you want their address to mail them and then b) do a proper double opt-in, your response rates <i>will</i> drop.
This is destined to result in poor deliverability for them in perpetuity due to a step change in volume combined with spam complaints. I would not do this. (I run a profitable ad-suppoted daily email list.)
Inbound newsletter traffic is the last hope for organic traffic to any kind of media site. Otherwise you're in SEM arbitrage land and that's a losing game.<p>Anyone who reads this and decides to run a newsletter should keep the grid a simple list and give people choices to help conversion. AVOID the temptation to include too many graphics or colors in the communication. The only picture should be the crap people are supposed to click on and maybe your sad logo.