This paper proposes a simple equalizer for a recent multicarrier block transmission scheme which pads zeros (as opposed to a cyclic prefix) in each transmitted block. In the absence of high-power amplifier induced nonlinear effects, it is shown that the resulting scheme is simply the dual of the classical Cyclic Prefix OFDM transceiver. Comparison between the two systems that takes into account nonlinear distortions introduced by the clipper is also performed in the practical context of the wireless broadband 5GHz HiperLAN/2 system. Both the classical pilot-based as well as novel (semi-) blind subspace algorithms are applied for channel estimation. The advantage of subspace methods in lowering the variation of channel tracking is corroborated with simulations which verify practically accurate channel estimates along the bursts.