Contemporary wireless communications systems adopt the Multi-User Multiple-Input Multiple-Output (MU-MIMO) technique: a single base station or Access Point (AP) equipped with multiple antenna elements serves multiple active users simultaneously. Aiming at providing a more uniform wireless coverage, industry and academia have been working towards the evolution from centralized MIMO to Distributed-MIMO. That is, instead of having all the antenna elements co-located at a single AP, multiple APs, each equipped with a few or a single antenna element, jointly cooperate to serve the active users in the coverage area. In this work, we evaluate the performance of different D-MIMO setups under Rician fading, and considering different receive combining schemes. Note that the Rician fading model is convenient for MU-MIMO performance assessment, as it encompasses a wide variety of scenarios. Our numerical results show that the correlation among the channel vectors of different users increases with the Rician factor, which leads to a reduction on the achievable Spectral Efficiency (SE). Moreover, given a total number of antenna elements, there is an optimal number of APs and antenna elements per AP that provides the best performance. This "sweet spot" depends on the Rician factor and on the adopted receive combining scheme.