This technical report presents the design and analysis of filter bank multicarrier (FBMC)/QAM multi-user MISO systems. We describe the complete uplink and downlink signal processing chains and characterize the end-to-end effective channel, including inter-carrier interference, inter-symbol interference, intrinsic interference, and residual self-interference. We compare FBMC/QAM with CP-OFDM and FBMC/OQAM through the lens of the Balian-Low theorem, and analyze prototype filter choices (PHYDYAS, Type-I, and Type-II), including the interference power breakdown under MRT and ZF precoding. Furthermore, we present an online stochastic successive convex approximation framework for ergodic sum-rate maximization with closed-form power updates, and contrast it with offline Monte Carlo-based approaches. Simulation results demonstrate the BER and network spectral efficiency advantages of FBMC/QAM over CP-OFDM under residual carrier frequency offset.