In this report, we provide a comparative study of state-of-the-art in Orthogonal Frequency Division Multiplexing (OFDM) techniques with orthonormal analysis and synthesis basis. Two main categories, OFDM/QAM which adopts base-band Quadrature Amplitude Modulation (QAM) and rectangular pulse shape, and OFDM/OQAM which uses baseband offset QAM and various pulse shapes, are intensively reviewed. OFDM/QAM can provide high data rate communication and effectively remove intersymbol interference (ISI) by employing guard interval, which costs a loss of spectral efficiency and increases power consumption. Meanwhile it remains very sensitive to frequency offset which causes inter-carrier interference (ICI). In order to achieve better spectral efficiency and reducing combined ISI/ICI, OFDM/OQAM using well designed pulses with proper Time Frequency Localization (TFL) is of great interest. Various prototype functions, such as rectangular, half cosine, Isotropic Orthogonal Transfer Algorithm (IOTA) function and Extended Gaussian Functions (EGF) are discussed and simulation results are provided to illustrate the TFL properties by the ambiguity function and the interference function.