Hello Bill and Alisha - another orchid newbie here with a very similar phalaenopsis! I've found this thread really useful. Mine had two dying spikes and six leaves when I got it (out of a skip - yuck, I know, but I was in a soppy mood that day and felt really sorry for it sitting there looking doomed). I've done pretty much what you've done - cut both spikes right back and I'm going to re-pot when the new medium arrives, and hopefully this can give it a fresh start. I've got exactly the same situation with the roots going round the bottom of the pot as well, though the ones that have stuck out have gone completely dry - maybe because it was not watered properly between the previous owner and me?
Good luck with yours! Am hoping for purple flowers from mine
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