It is well known that glottal pulse shapes differ from person to person and also for the same person for utterances in different contexts. Since our objective was to determine the effect of the glottal waveshape on synthetic speech we have implemented an analysis oy synthesis system whose characteristics can be controlled through a set of parameters to realize any desired voice source characteristics. A natural continuous voiced utterance was analyzed and it is shown that the source and the vocal tract parameters are well estimated by combining a 6 parameter source model with ARMA analysis. The better performance of this system over two other methods i.e. closed phase LPC covariance analysis[5] and robust LPC analysis [2] (for the case of non gaussian excitations) is demonstrated in terms of formant tracking ability and efficiency of resynthesis.