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Theoretical capacity calculations and corresponding simulations show significant capacity/throughput gains from MIMO systems. Whether these gains are achievable in a real system, deployed in a practical environment, depends on a variety of factors, such as the choice of the communication algorithms, analog impairments and the "quality" of the wireless channel to sustain MEMO communications. In this paper, a 5.25 GHz broadband MIMO-OFDM testbed is described along with field measurements conducted with it. The MIMO-OFDM communication algorithms and also the impact of analog impairments on the performance of the system are described. Detailed system calibration results are described which serve as a baseline for results of field measurements. The results of wireless measurements are compared with the theoretical capacity, computed with the channel estimates obtained during the demodulation process. The average achievable capacity in the indoor wireless environment is shown to be 9.97 bps/Hz (bits per sec per Hz) while the capacity loss due to analog impairments and the choice of algorithms is about 2.33 bps/Hz. Also, field measurements conducted with the system in various environments are presented comparing the average throughput/capacity achieved in each of these environments.