Nice, Jeremy! This is a great species and getting it for free makes it even better...
Shouldn't smell too bad, to my recollection this one is kind of 'mushroomy' or earthy when you stick your nose right in it.
In general, most of the cirrhopetaloid bulbos enjoy warm temps, near-constant moisture (let dry a little between waterings when temps are cooler), and moderate to bright light.
Whether you grow it mounted or potted depends on your cultural style and aesthetic preferences. This species tends to have short internodes so keeping it contained in a pot is easy. On the other hand mounts look more 'natural,' especially for display of the inflorescence, but even with water-retentive materials like treefern and sphagnum you'll need to water much more frequently than in a pot.
When I pot bulbos I usually use sphagnum with styrofoam peanuts (maybe two parts sphag to one part peanuts). A lot of people use typical bark mixes with good results, I mostly like the sphagnum/peanuts mix because it lets me water less frequently and it's easy to tell when it's dry. I prefer wood baskets or net pots over regular plastic or terracotta pots but it doesn't seem to matter much to the plants.
Most Bulbophyllums grow much better with heavy feeding. I use small amounts of Osmocote 14-14-14 on my potted bulbos and they seem to like the constant nutrition pretty well. The mounted ones get a liquid fertilizer spritz (~125 ppm N) every 1-2 weeks, probably less than they'd ideally like.
Hope your plant does well for you!
--Nat