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This paper provides a systematic Mutual Information (MI) and Multichannel BeamForming (MBF) characterization of optimized multiple-input multiple-output (MIMO) communication systems operating in Ricean fading. These optimized configurations are of high practical importance since, contrary to the common belief, benefit from the presence of direct Line-of-Sight (LoS) components and deliver maximum multiplexing gains, by deploying specifically designed antenna arrays at both ends. In the following, using elements from random matrix theory, novel analytical expressions are derived for the exact and asymptotic MI statistics while the prevalent Gaussian approximation is examined.
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