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Apparently, yes

I does work Send a small email to yourself and you will see The reason you probably don't think it works is because you don's see a "sending mail" type thing.

and shift-clicking the minimise button minimises with a cool slowmotion effect

you can send mail with it :) You don't need to have it running unless you want to use it as an SMTP server. You can just select "sendmail" in the Mail preferences and it wuill do it's job fine