Hi Dan -
Sandy won't say it but I will - sphagnum = satan!
If it were mine, I'd snap off the last 2 (brown) canes before repotting, and put it in a chunky bark mix in the absolute smallest pot it will fit into. Otherwise, you may wait a couple of years for the foliage to fill a bigger pot before it decides to bloom.
These hybrid dendrobiums can grow like weeds once you get them into a state of contentment.
Regards - Nancy