Is this a flower spike with roots?
 

This is my nobile-type Dendrobium Love Memory 'Fit'. From the photos below, you'll see that my baby Den is about to have three flowers on the spike. Yesterday, however, I noticed two little "feet" coming off the base of the spike where it attaches to the cane and to me they look an awful lot like the beginnings of roots. Is this a flower spike, a keiki, or some kind of cross between the two? I've got the start of two more spikes (and possibly a third) at other places on the cane as well so I'd really like to have an idea of what I'm dealing with.

Also, I'm sorry, I got the best photos I could, but the whole plant is really only about 6 inches tall and I'm not exactly a camera wiz.

That is a nobile-type dendrobium. It looks to me that it started to form a keiki, then something made it "change its mind" and bloom instead. You can see the beginnings of another keiki on the other side.

mmm this is interesting.
The Dendrobium is saying to you "you can have thebest of both worlds"
A kieki and a bloom. SO cheer up and party.

See this is why I like orchids. They're as fickle as I am.

Well, the flower spike came first, the roots have only been developing for the last day or two. Is it common for a flower spike to start turning into a keiki? Any thoughts on whether I should expect the other two spike/keiki beginnings to follow a similar path? Will it eventually develop its own leaves (as well as bigger roots)? I assume that once it has leaves it will be time to cut it off and move the keiki to its own pot.

Generally I hear that you let the keiki establish it's own healthy root system before separating- leaves may or may not come first.

Also, many keikis do better if repotted in the same pot as their mother plant, which will help regulate the humidity and moisture. (according to what I've read, could be wrong.)