In this paper, we propose a generalized multiple-input multiple-output (MIMO) transmit preprocessing system, where both the channel coding and the linear MIMO transmit precoding components exploit the knowledge of the channel. This was achieved by exploiting the inherently flexible nature of a specific family of rateless codes that are capable of modifying their code-rate as well as their degree distribution based on the channel state information (CSI), in an attempt to adapt to the time-varying nature of the channel. Moreover, we also propose a novel technique, hereby referred to as pilot symbol assisted rateless (PSAR) coding, where a predetermined fraction of binary pilot symbols is interspersed with the channel-coded bits at the channel coding stage, instead of multiplexing the pilots with the data symbols at the modulation stage, as in classic pilot symbol assisted modulation (PSAM). We will subsequently demonstrate that the PSAR code-aided transmit preprocessing scheme succeed...