I can only offer what I have experienced myself.
I have a dedicated email server on GoDaddy.com. I had to jump through hoops with them to get my server to send out more than 5,000 messages in a 24hr period.
Over the last 4-5 months I have successfully sent out 6 bulk newsletters using exclusively Universal Email v4 to over 11,000 addresses on each mailing. I have had nearly flawless results. The process takes about 4-5hrs to complete once I begin the mailing script, I click it and it starts... Then I can return later to review the error log table in MySQL. There are times that a few message addresses need a 2nd attempt, but we're talking about less than 1% of the total messages.
As for Google Analytics...I have added the email address record ID to all of the links so that I can actually see who does the click thru in Google Analyitics.
Overall it all works extremely well.