In this letter, we revisit hybrid analog-digital precoding systems with emphasis on the modeling of their radio-frequency (RF) losses, to realistically evaluate their benefits in 5G system implementations. We focus on fully-connected analog beamforming networks (FC-ABFNs) and on discrete Fourier transform implementations, and decompose these as a bank of commonly used RF components. We then model their losses based on their S-parameters. Our results reveal that the performance and energy efficiency of hybrid precoding systems are severely affected once these, commonly ignored, losses are considered in the overall design. In this context, we also show that hybrid precoder designs similar to Butler matrices are capable of providing better performances than FC-ABFN for systems with a large number of RF chains
