In this paper, we propose and analyze the opportunistic amplify-and-forward (AF) relaying scheme using antenna selection in conjunction with different adaptive transmission techniques over Rayleigh fading channels. In this scheme, the best antenna of a source and the best relay are selected for communication between the source and destination. Closed-form expressions for the outage probability and average symbol error rate (SER) are derived to confirm that increasing the number of antennas is the best option as compared with increasing the number of relays. We also obtain closed-form expressions for the average channel capacity under three different adaptive transmission techniques: 1) optimal power and rate adaptation; 2) constant power with optimal rate adaptation; and 3) channel inversion with a fixed rate. The channel capacity performance of the considered adaptive transmission techniques is evaluated and compared with a different number of relays and various antennas configurations for each adaptive technique. Our derived analytical results are verified through extensive Monte Carlo simulations.