MIMO wireless communication systems have extensively been employed due to their ability to transfer data efficiently even at higher data rates and are often being used to increase either the multiplexing gain and/or the diversity gain with a tradeoff. The Diversity-Multiplexing Tradeoff (DMT) had been proven to be a powerful evaluation and comparison tool for the existing and new technologies. However, Throughput-Reliability Tradeoff (TRT) has the notable advantage of revealing the interplay among transmission rate, signal-tonoise ratio and outage/error probability parameters. This paper proposes TRT analysis of MIMO channels under broad class of fading distributions that includes, different identical fading distributions, correlation between channels, non-identical fading distributions, and non-zero channel means. The analysis is carried out by characterizing the joint pdf of the eigenvalues of Gram matrix in high SNR regime. This work also investigates the relation between DMT and TRT of MIMO in broad class of fading distributions. Further, our study sheds light on different channel parameters and their usefulness in TRT analysis, such as, error/outage probability vs. Signal-to-Noise Ratio (SNR) curves, amount of SNR increase to increase transmission rate and/or decrease error/outage probability, etc.