I haven't used yagmail, I only looked quickly but I didn't see an advantage of yagmail over the web2py mail functions.
The bootply layout below looks great - I don't see any reason that wouldn't work.
Do you want to receive email into the app? I didn't see how yagmail supports inboud email, that's where you need a service to route email to a webhook that you define. Services like sendgrid, mandrill, and mailgun will also parse the headers, body, and attachments and POST them to your webhook where you can easily process and 'add' to your inbox.
They each have different methods to track related emails, e.g., the response to an outbound email so you know if somebody responded.