This paper extends the analysis presented by Eng and Milstein (see IEEE J. Select. Areas Commun., vol.12, no.5, p.938-951, 1994) of a hybrid frequency division multiple access/code-division multiple-access [FDMA/CDMA (F/CDMA)] system in a Rayleigh fading environment to include the presence of a direct-path component (i.e., Ricean fading). The results show that a wideband CDMA system out performs a hybrid system, although the combination of a specular component and an exponentially decaying multipath intensity profile (MIP) with a large decay factor may result in only a minimal degradation of system performance for a hybrid system.