I have the same plant I received in similar condition - we proly bought from the same seller
was potted in packed
dried out sphag! so only good roots were at the surface and foliage looked wrinkled as well
I repotted (after soaking to get all sphag removed from it) in chc and perlite - is doing nicely now - and has only been maybe 3 weeks. There is new root growth and a new growth!
I have just started using chc myself so use skewers to check for moisture, and it doesn't seem the chc stays moist horribly long so should work well!
![Good Luck](http://www.orchidboard.com/community/images/smilies/goodluck.gif)
and keep us posted on plants progress!