This paper describes a testbed which simulates a third generation Code Division Multiple Access (CDMA) wireless link. The designer of next generation wideband CDMA systems has the choice of a wide array of advanced signal processing algorithms and a variety of operating environments. The Rice testbed is a tool to evaluate these design options and trade-offs in different system scenarios. The backbone of this testbed is a wireless CDMA multiuser link built using Simulink and Matlab. An efficient method of system modeling is used to accelerate the simulations. The testbed also uses a method for rapid prototyping of algorithms and DSP-based simulation acceleration for new algorithm complexity and performance evaluation.