damit!!!, the flower on my psychopsis blasted!

all that waiting and anticipation, watching the bud get larger and larger,..then it started to yellow slightly, i knew it was going to happenat at that point...and sure enough when i went out to check on it today,..it was wilting and drooping and soft, collapsing in on itself....
ive got two spikes on this plant, one has been cut by the privious owner and is growing a new spike off the old one,..the other (the one that just blasted) is much taller it seems like this last bud was only the second or third flower,.. there still apears to be a growing tip on the spike so i gather it send out a new bud,
wouldnt it be healthier to cut both spikes off completely
so the plant can redirect its energy toward some new growth? doesnt producing these large flowers in succession over and over, expend alot of energy that could weaken an already struggling plant?