An accurate performance evaluation approach which uses a closed-form exact analytical expression of the phase noise moments is presented. This enables one to derive a high-order Gaussian quadrature rule for the integrations needed to take into account the phase noise in the computation of error probability. A systematic comparison with results obtained through a Monte Carlo simulation shows that the approach is more accurate than previous methods. The analysis is performed on ASK and FSK heterodyne receivers with integrate-and-dump filtering, envelope detection, and optimized postdetection low-pass filtering. The feasibility of ASK and FSK heterodyne systems at bit rates comparable to the spectral line bandwidth of the laser sources is conf...