We propose a Vertical Bell Laboratories Layered Space-Time (V-BLAST) MIMO complemented with Rate-Compatible Convolutional (RCPC) codes with Zero Forcing (ZF) and Minimum Mean Squared Error (MMSE)-based detection, as a way to attain high-capacity and highly reliable wireless system. The analytical BER of the system is presented and numerically analyzed. The system performance is analyzed in Nakagami-m fading channel, as it is adaptable to various signal statistics and covers a wide range of fading models. Equivalent convolutional code is used to mitigate the complexity arising in the calculations of the RCPC codes parameters. Results show that the use of highrate code allows for bandwidth efficiency while keeping the performance degradation at a minimum level not exceeding 1 dB. It is also shown that the proposed system is able to yield good performance even at the minimum number of antennas.