I have created several newsletters, some have been printed and mailed, but all are emailed. My ship was decom in 1995 so we still have a few members on active duty, but those are the kids. As far as I can see most regular reunion attendees are in their 60s or beyond. It is much easier to travel to a reunion after the children are grown and gone, and hopefully our finances are more in order. My experience shows that most, better than 95%, of our members have email addresses. I also see that many email addresses change often and I am almost never notified. A fair number of members register but never, or rarely, go back into the site. In my Association http://www.ussdale.com, we are active in trying to get members to register on our website. There are about 150+ registered members, I have almost 300 USPS mail addresses that I send printed mail to. Although I am very comfortable online, At 63 years of age, I seem to be in the minority.
I feel that by focusing most of your output on the website will miss a lot of potential reunion attendees, and that is what we are looking for. I keep a separate list of members that I call my 'snail mail' list, they get everything mailed.
All this is a lot of work but so was port-and-starboard watches on YANKEE STATION and I don't regret a moment of either.