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This paper is devoted to the fast and accurate performance assessment of a digital point-to-point radio which uses high-order quadrature amplitude modulation (QAM) with optimum space diversity combining and decision-feedback equalization. A comparison with linear equalization is also provided. In our Monte Carlo simulation, the accurate error rate for each time-varying channel is obtained by using the Gaussian quadrature rules (GQR) based on computation of moments instead of the upper bound approximation. The use of GQR can reduce the calculating amount and accelerate the speed of simulation significantly. The GQR method can be applied to nonGaussian noise or interference and always can assure accurate results and very satisfactory performance when the series expansion method fails.