Agree with the whole 'its not flying partial panel, its recognizing a failure' argument. It sure is.
As an instructor I would use an Elite PCATD, or one of their new Advanced Aviation Training Devices - Elite G-500/G501 - excellent equipment and much much cheaper to operate than an FTD. (you can use them for upto 20 hours for the Instrument Rating).
If you experience it for real, declare an emergency, and try to get out of the clouds.
As an instructor I would use an Elite PCATD, or one of their new Advanced Aviation Training Devices - Elite G-500/G501 - excellent equipment and much much cheaper to operate than an FTD. (you can use them for upto 20 hours for the Instrument Rating).
If you experience it for real, declare an emergency, and try to get out of the clouds.