I visited the house of a fellow orchidist recently who is as much of a bulbo nut as I am. She showed me her growing methods and they were quite interesting.
She bought a number of deep containers from a local container store, placed a layer of aliflor (a local clay pellet), placed her plants on top and then filled the container with water to a depth halfway up the pot
The plants stay wet continously so I asked if she had a seen any rot problems. She said she had, but suprisingly limited and the plants were growing really well.
Don't know how it would work for others, but I am going to do a limited run of growing in this way and seeing how they do. Will keep you informed.