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Spatial-MIMO systems have been studied thoroughly during the last decade. Polarization characteristics of wireless signals, on the other hand, were not treated yet in a similar manner. Polarization can be used as another dimension for achieving diversity gain in the full three dimensional reality. In the current analysis, the Polarized-MIMO potential in a Rural Area setting is studied. The analysis introduces P-MIMO 3D channel model based on the, so-called, Method-Of-Images. It is shown that relative to degenerate polarization-dimension techniques (such as SISO and SIMO) there is a significant capacity improvement when using several polarizations concurrently. The potential of P-MIMO realization in future broadband wireless systems is clearly demonstrated.