Also got this today for a great deal (because it was out of bloom and in need of a serious repotting). While I let the media soak (small coconut husk chips, small orchiata, perlite, granite, stalite and sphagnum) I also let the plant soak. I had to cut it out of its pot because of the way that the roots were growing. The media was so deteriorated that it was basically mush. After a repot I hope he will continue on to being happy with me.
That was one of my 1st orchids i bought from last years orchid show , it had one spike , lots of flowers and smelled great , now its seperated into 2 plants and growing new phesudo bulbs , just waiting for a spike now . good choice on getting this , let me know the progress you make , i have found very few people that have this one .