Help for a sick phal - only has aerial roots left

[OrchidLife]

Well, I'm still tryng my best to keep my healthy phals alive and today I was given a very sick phal by someone who thought I could do a better job than they were. When I pulled the poor thing out of the pot every single root was rotten and it was so bad that even the bark it was potted in had mold growing on it. I cut off the dead roots. The only saving grace for this poor phal is that it had sprouted out a bunch of aerial roots. That is now all it has left. I've had it soaking for an hour to try and soften them up a bit. Is it safe to go ahead and pot this phal? I read that aerial roots don't take to being potted the same as roots that have grown inside the medium and I want to give this phal the best chance it has to live. Any and all advice appreciated Photo is after it's been soaking for a while.