© 2007-2012 IEEE. For 5G, it will be important to leverage the available millimeter wave spectrum. To achieve an approximately omnidirectional coverage with a similar effective antenna aperture compared to state-of-the-art cellular systems, an antenna array is required at both the mobile and base station. Due to the large bandwidth and inefficient amplifiers available in CMOS for mmWave, the analog front end of the receiver with a large number of antennas becomes especially power hungry. Two main solutions exist to reduce the power consumption: hybrid beam forming and digital beam forming with low resolution Analog to digital converters (ADCs). In this paper, we compare the spectral and energy efficiency of both systems under practical system constraints. We consider the effects of channel estimation, transmitter impairments, and multiple simultaneous users for a wideband multipath model. Our power consumption model considers components reported in the literature at 60 GHz. In contrast to many other works, we also consider the correlation of the quantization error, and generalize the modeling of it to nonuniform quantizers and different quantizers at each antenna. The result shows that as the signal-to-noise ratio (SNR) gets larger the ADC resolution achieving the optimal energy efficiency gets also larger. The energy efficiency peaks for 5-b resolution at high SNR, since due to other limiting factors, the achievable rate almost saturates at this resolution. We also show that in the multiuser scenario digital beamforming is in any case more energy efficient than hybrid beamforming. In addition, we show that if mixed ADC resolutions are used, we can achieve any desired tradeoff between power consumption and rate close to those achieved with only one ADC resolution.