Questions about Onc. Mendenhall 'Papa's Dream' x Onc. Papilio 'Giant'

[EDDIE]

Hey guys, here are some pics. of an oncidium (mendenhall 'papa's dream' x papilio 'giant') I received a few days ago...when I received it, it was in a 4" pot, it has 2 spikes, one that is in bloom. When I unwrapped it, the pot was cracked into many pieces! I couldn't believe it..I had to place it in another 4" pot that was occupied by a phal. (cleaned it good!) It fit perfectly. It is potted in tree fern fiber. Do you guys think it will be ok? I have several questions about this orchid:
1.) I've heard these like to be pot bound...I was told I may have to cut the spike's when I repot..is this true and do you cut all of them? (I'm assuming new ones grow off of new pb's if conditions are right?)
2). What type of medium is best for these? Right now it is in tree fern fiber.
3). How dry should it get between waterings? What do I feed it with? (I heard low nitrogen, since it is in tree fern fiber)
4). When I do repot it, what size medium and how big of a pot do I put it in?
Sorry, this is so long...I would appreciate any suggestions you guys can give me...this is my first oncidium! Thanks everyone!
Sorry...having trouble uploading the pics..will try later!
Best regards, Eddie.