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This paper investigates the impact of adjacent channel interference (ACI) and co-channel interference (CCI) on error performance and throughput of a multi-Gbps millimeterwave wireless personal area network (WPAN) system in a realistic residential line-of-sight (LOS) and non-line-of-sight (NLOS) multipath environment. The main contribution of this paper is providing a multi-Gbps WPAN system design in the challenging multipath environment in the presence of ACI/CCI. Based on the investigation results, we have provided ACI/CCI rejection as a reference for victim receiver protection design. In the NLOS environment, the ACI rejection (i.e. ACI that causes 0.5 dB degradation in the required signal-to-noise ratio (SNR) to achieve bit error rate (BER) of 10-6) for pi/2-BPSK, QPSK, 8 PSK and 16 QAM are 13, 7, 0 and -6dB respectively. And the CCI rejection for similar modulation schemes are -18, -20, -26 and -29 respectively. Secondly, we have clarified the LOS-NLOS relationship of the ACI/CCI impact to system performance. ACI in multipath NLOS environment causes an additional 5 dB degradation to error performance as compared to ACI in the LOS environment. CCI on the other hand, has similar impact on error performance in both LOS and NLOS environment. Thirdly, we have clarified the relationship between modulation spectral efficiency and robustness against ACI/CCI. In an environment with no or low ACI/CCI, the maximum achievable throughput for pi/2-BPSK, QPSK, 8 PSK and 16 QAM in LOS environment are 1.2, 2.5, 3.8 and 5 Gbps respectively. In NLOS environment, the achievable throughput decreases to 1, 1.9, 2.8 and 3.8 Gbps respectively. As ACI/CCI increases, the throughput of higherorder modulation schemes such as 16 QAM decreases the most rapidly, followed by 8 PSK and QPSK. The throughput for pi/2-BPSK has the highest tolerance against increasing ACI/CCI, at the expense of lower maximum achievable throughput.