How do I create new Message Templates?
Previewable email templates is a good module and supports Rules and Tokens.


  The Previewable Email Template (PET) module lets you create email
  templates, with token substitution, which can be previewed by the user
  before sending. The emails can be sent to one or many email addresses
  in a flexible way, and the recipients may or may not be Drupal account
  holders (users).