hello
I have the same pb. All is good but there are not email sended... 
There is a error log about this function to see the errors ? 
1 2010-08-15 14:39
Re: SMTP Mails not receiving at user end (2 replies, posted in PunBB 1.3 troubleshooting)
2 2010-08-15 12:42
Topic: Parameter/email (1 replies, posted in PunBB 1.3 troubleshooting)
Hello
I install punbb but i have a pb. Any mail are send but i completed parameter/email settings...
I want to use an external SMTP. What in the problem ?
I setting the smtp server, the name, the password.... and i activated the SSL mod...
A error log is created if there are some mail to send ? Because any mail are sending.. 
Help me please
Glop