Wow you are so funny(sense the sarcasm). It isn't spam it is to peopole who will be interested in the subject of the website. And that isn't everybody. But any help with how many people you think I should email would be greatfully received.

Spam is unsolicited email. The definition of 'unsolicited' is anything not asked for. Whether the person may be interested in it or not, it's technically spam if the user didn't specifically request it, such as by opting into a mailing list or newsletter.

Ok, fine it is spam, but it isn't the annoying spam for pills and illegal software it is 1 email to each person not 5 a day. I have a question, If someone sent you a email about a new forum like daniweb but with a more focused aim on graphics for instance, I am sure you would be glad to be one of the first to know and be able to use the resource. I believe the people I am sending this email to will feel the same way and they won't just delete it.

Back to my original question, what day of the week is it best to send it out?

I send out my monthly newsletters Tuesday early afternoon. It's late afternoon by the time all 85,000 members receive the email. Still ... I think you should just play around with different days and times until you find the one that performs the best for you. I think the only conclusion everyone here has made is not to send it out on weekends, and yes to sending it out in early/mid afternoon.

usually i do it on a saturday because the members wont have work or school etc.

The problem with doing it on a weekend is that most people surf the internet during the evenings after work or school. However, weekends are usually spent with various activities (unless you're me and you spend 24/7 in front of the computer). Therefore, email inboxes tend to fill up during the weekends, and you don't want your newsletter to have to compete with lots of other mail.