We propose a novel approach to analyze the rendering error of image-based rendering (IBR) algorithms with depth information. We do not use the assumption of band-limitedness as existing approaches. Instead, we use the framework of the Propagation Algorithm that allows to rigorously analyze the rendering error via the framework of nonuniform interpolation. In this framework, using the depths, we propagate all the intensity information to the virtual cameras, and by doing so, turning the IBR problem into a nonuniform interpolation problem at the virtual image planes. The proposed approach then can systematically analyze the rendering quality for different interpolation methods, including commonly used linear interpolation. We can furthermore analyze the effect of depth estimation error on the rendering quality.