Here is a little test with PID control. As you can see it can hold a position pretty well. The PID is not tuned. That's why you can hear that beeping sound coming from the motor. 

Now all I have to do is to join PID control with intuitive movement, so that I can actually lift something. 

This video is without any regulator/power:

Here you can see PID regulator in action. It is designed so that it holds a setpoint (angle), and tries to do that no matter whether there is a force on it or not)