Phal with huge roots - too tall! How do I manage them?

[twinkie]

I seem to have planted myself on the forum today with all kinds of questions so have another here about repotting a phal with a huge root system. It's been repotted twice and the second pot was really not big enough at roughly 7x7". It's got these ginormous roots like darn banana roots hanging down in a huge long massive clump that I can't even snug the plant down to the appropriate potting level. Is it ever appropriate to do some judicious sterile trimming or should I just try and find the highest orchid pot with holes I can get? This guy could easily go 10" high but I thought phals were supposed to 'self regulate', they drop leaves etc., and the thought of cutting healthy roots to fit a pot makes me cringe. None of my other phals have roots the size of this one, they are larger than the size of a pencil and frankly kind of freak me out. It's like an octopus. Should I just keep going to bigger pots or what?