Doing so with Xrumer you might expect a lot of abuses on their site from spammed resources and their hosting can close the site for such activity.
But I think email spam would be more fruitful...
Actually, email spamming is far less productive. There are so many shields before the email arrives at the destination that it simply makes it next to impossible.
Fact is, most people's ISP's/Host have spam firewalls, and then you have the users computer that has a anti spam on the mail. By the time the mail arrives (if it arrives) it's sent directly to the spam box.
It's not as easy to Spam. IP's are immediately flagged and if you don't have a reverse DNS lookup, most ISP mail machines wont even agree to receive the email.
Forum posting is far more lucrative. By posting on online established communities that are relative to your website, product or service, your able to penetrate the market/community that is most relative to your campaign.
Furthermore, spam email does not improve search engine rankings.
It's almost like taking a knife to a gun fight only to realize your standing in front of an army with Tanks and AK47's. Remember - the key to marketing any product/service/website online is your ability to penetrate online communities - and that is something that spamming email fails to do (even with the opt-in mail lists that nobody reads).
Seriously, how many people here read spam email? How many people here have acted upon spam email or purchased something as a result of unsolicited email? We tend to think the rest of the world is stupid.
Give people just a tad of credit...
The Nigerian scams, Viagra, etc., are simply outdated. People simply aren't that stupid anymore.