I just bought a website with a big list, and the way that I'm recouping the investment and also warming up the list is by running a 4-day discount sequence (straight outta Frank Kern's toolbox).

The same goes when I'm doing an affiliate promo - I warm up the list by doing a four or five day sequence promoting one offer and making it an event.

That builds relationships, because bonuses and discounts are perceived just as good as "free" content... maybe more so.

That does the trick, and I make money doing it.

If you're set on giving away free content, do it on a teleseminar and "launch" the live class. That will get them excited instead of just reading your emails.