What is an advantage of using I-Q modulation with software-defined radios (SDRs)?
Why I-Q modulation splits a signal into two components 90 degrees apart, in-phase (I) and quadrature (Q). Any signal can be described by its amplitude and phase at each instant, and any amplitude/phase pair can be built from the right combination of I and Q values. Because software can compute those I and Q streams however it likes, an SDR can generate or decode AM, FM, SSB, CW, PSK, or any other mode with nothing but a change in the processing code.
Watch out The choice about eliminating high resolution A/D converters has it backwards: good dynamic range in an SDR still depends heavily on the resolution of the converters, and I-Q sampling does not change that.
I and Q give you amplitude and phase, and amplitude plus phase equals every mode.