As far as I know even if you lower the setting you dont email them manually. Vbulletin is still supposed to send emails automatically, but just in smaller groups.
So I dont think it will take you long..
Your problem is that: Every PHP file has a maximum execution time (timeout) and if you try to send emails to 13000 people in one attempt regardless of how fastt your server is you'll get timout error. (Unless you increased the timeout time inside set_time_limit command for that file)
This is why vbulletin has this setting.
If I were you I would give it a try and after lowering it to 100 or 200, send a "test" email in debugging mode. I believe it will work..
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