A system for sensing, sampling and processing an input signal includes an encoding subsystem for sensing and sampling the input signal into a plurality of distinct data paths using a sub-Nyquist sampling rate. The system architecture is designed to induce encoded variations between the plurality of data paths, such as channel differences in amplitude or phase. The system additionally includes a decoding subsystem for reconstructing the encoded signal back to its original bandwidth. Preferably, the decoding subsystem exploits mismatch effects between the plurality of data paths as a form of signal diversity to resolve ambiguities introduced from sub-Nyquist signal sampling during signal reconstruction.