Markov-modulated Poisson process (MMPP) is one of the popular non-self-similar schemes for modeling network traffic. They are used for modeling both short-range dependent (SRD) and long-range dependent (LRD) traffic. The paper verifies Algorithm LAMBDA for fitting MMPP to synthetic traffic and evaluates the accuracy of the fitted MMPP model. We provide evidence that, for self-similar traffic, the performance highly depends on Hurst parameter. In some cases, the algorithm exhibits some inaccuracy in mean queuing delays. We try to modify it by a simple change in order to make the algorithm adaptive, and consequently, make the results more realistic.