Second year blooming for me. Due to the unusually hot summer we have had, it is blooming now, in late September. I bought it last year at Santa Barbara Orchid Estates at their November open house and it was in spike then, but didn't bloom until December/January. Amazing how weather can have such a dramatic impact on blooming.
You are right, there is a large amount of L. anceps in this hybrid, 50% to be exact. The other half is L. superbiens. So I guess I am surprised that the flower spike is as subdued as it is instead of being several feet long.