Hi Phill,
We don't have any personalization in the newsletter at this time.
Html in Email is a real challenge, it is much more difficult to get it to look right in email than in a web page. I don't have any magic solution to make it easier at this point. There are 3rd parties out there that might make it easier for people who don't know the ins and outs of html and html for email such as Campaign Monitor, but they are paid services. They have a lot of free pre-made html templates for a newsletter and I've linked to them from the Using the Newsletter Article.
I made the template for our newsletter by modifying one of their free designs but it was a pain in the arse even for me and even editing an edition of the newsletter once you have a template is a pain as well because the html is so heavy with extra markup and inline styles its very confusing and frustrating. I wish I had a solution to make it really easy but it isn't and I don't. Campaign Monitor probably has a much easier way to both create templates and to author your actual newsletter using the template. If you find it too difficult using our newsletter feature you could use them for all of it including sending the emails but it probably also costs a bit to use them.
Best,
Joe