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A scheme for transmitting binary signals through a Rayleigh fading multipath medium is analyzed. The scheme envisions an adaptive receiver and a feedback channel. The feedback channel conveys information to the transmitter on the forward channel state learned at the receiver. The transmitter uses this information to modify transmission. Results that show the improvement in performance of the system under the assumptions of perfect receiver learning and noise-free feedback are presented. In this way, upper bounds on system performance are established.