This work relates to the reliable generalized predictive control issues in the case when actuator or sensor failures take place. The experimental results that form the basis from which the conclusions are drawn from have been obtained in the position control of a servo drive task, and extend the results from the prior research of the author, dedicated to velocity control problems. On the basis of numerous experiments, it has been shown which configuration of prediction horizons is most advantageous from the control performance viewpoint in the adaptive generalized predictive control framework, to cope with the latter failures, and related to a minimum performance deterioration in comparison with the nominal, i.e., failure-free, case. This case study is the main novelty of the presented work, as the other papers available in the field rather focus on additional modifications of the predictive control framework, and not leaving possible room for optimization/alteration of prediction horizons’ values. The results are shown on the basis of the experiments conducted on the laboratory stand with the Modular Servo System of Inteco connected to a mechanical backlash module to cause actuator/sensor failure-like behavior, and with a magnetic brake module to show the performance in the case of an unexpected load.