Should I divide or pot this L. anceps??

[Austin Powers]

I've repotted many orchids in the past. I am trying to make a decision on what to do with a L. anceps which I purchased in the Fall. It is quite large, and has overstepped the pot by many inches, see photo. There are a bunch of nice new roots on the rhizome of the newest growth.

Basically I believe that I have two choices. 1. find a large pot/wooden basket to 'capture' the new roots. I probably should have done this a lot sooner. 2. cut off the two newest growths before the lead initiates and 'repot' the division. I have never divided a cattleya, I am guessing that it would be good to divide before the new growth start?.

This plant has been 'repotted' prior to purchase with the pot in pot method of adding larger and larger pots, no medium, except for the pebbles in the inner most pot, mostly for the weight.

I guess this is mostly a judgement call. Just curious what you might do faced with this situation. Oh, I'd prefer not to mount this one.

Thanks,
Stephen
I hope the pics are ok. If not let me know and I can get some better shots.