In this paper we revisit hybrid analog-digital precoding systems with emphasis on their modelling and radio-frequency (RF) losses, to realistically evaluate their benefits in 5G system implementations. For this, we decompose the analog beamforming networks (ABFN) as a bank of commonly used RF components and formulate realistic model constraints based on their S-parameters. Specifically, we concentrate on fully-connected ABFN (FC-ABFN) and Butler networks for implementing the discrete Fourier transform (DFT) in the RF domain. The results presented in this paper reveal that the performance and energy efficiency of hybrid precoding systems are severely affected, once practical factors are considered in the overall design. In this context, we also show that Butler RF networks are capable of providing better performances than FC-ABFN for systems with a large number of RF chains.