The Modified Smith Predictor (MSP) is designed, and in the literature classified, as a Dead-Time Compensator for integrating processes. In the present paper it is shown that the MSP is a PID controller in series with a second-order filter, defined by the dead-time and an adjustable parameter. Optimization of the regulatory performance of this controller is performed under constraints on the robustness and sensitivity to measurement noise. Excellent performance/robustness tradeoff is obtained for stable, integrating and unstable processes, including dead-time, as confirmed by simulations and by experimental result obtained on a laboratory thermal process. (C) 2011 Elsevier Ltd. All rights reserved.