Abstract: Imagined speech decoding from electroencephalography (EEG) has gained increasing attention as a potential communication pathway for individuals with severe motor impairments, yet reported performance often relies on evaluation protocols that do not clearly reflect cross-subject generalization. This study presents a transparent baseline investigation of a multi-class imagined speech EEG dataset under a strictly subject-independent evaluation framework. Two preprocessing and feature extraction pipelines were compared: a time-domain statistical feature approach and a frequency-domain spectral bandpower approach, evaluated using subject-wise cross-validation and trial-level majority voting with a random forest classifier. The spectral pipeline achieved a significantly higher mean trial-wise accuracy than the statistical pipeline (49.03 $\pm$ 4.18% vs. 37.97 $\pm$ 3.79%) for coarse-level classification across subjects. Forward feature selection further indicated that a limited subset of frequency bands captured most of the discriminative information. Overall, this work provides a strong basis for future brain-computer interface studies targeting improved cross-subject generalization in EEG-based imagined speech decoding.