Model predictive field-oriented control (PFOC) is a novel control strategy belonging to the class of finite control set model predictive control (FCS-MPC) for electric drive systems. It is a direct control scheme which minimizes the cost function through the convergence of errors between the given and predictive stator currents. In this paper, PFOC is thoroughly presented and analyzed through its dynamics and steady state operations under wide range of speed and varying torque conditions. In light of PFOC's model based characteristics, its robustness and influence under model parameters' mismatch is also investigated. Experiments are conducted to show these performance and sensitivities.