Hi Janus,
Did you have any succes in soving the issue on this posting?
I have a similar problem for a french mailing I need to send out. I'm using ars digita acs 4.2 for this site, but your problem seemed similar to mine.
8bit characters are encoded before or while they are inserted in to the db through the spam.new procedure, and pop-out in some weird (to me unkown) character encoding. Result is that we can't use any characters with accents at the moment. and the french don't seem to like that 😉
I've been so far unsuccesfull in solving the issue, since all looks proper to me. Did you find a solution?