How would I water this? Dehydrated pbulb
 

Something like this...potted 1 day ago.

http://i1343.photobucket.com/albums/...psgxho4yze.jpg

Should I water it as if it was ok or should I increase the frequency?

I would wrap some spagh around it and keep it moist. Does it have any roots?

Yes, it has 3 good looking roots, around 3 cm long (1,12 in).
Not shown in the photos but the pbulb is really dehydrated, not only is wrinkled but also very thin, almost like a sheet of paper.
As I told in another thread, I have some difficulty in finding sphagnum around here. It's potted in bark and leca since yesterday.

Try and keep the humidity around it as high as possible. Perhaps put it in a jar, terrarium or put a plastic bag over it for most of the day. This will reduce transpiration. The old roots won't have to pump as much water before new roots grow.

If you keep it in bark and LECA, water it every day so the root zone stays moist.

My guess is it will begin a new growth and new roots at about the same time.

Given my limitations in getting sphagnum, this was my plan...little water everyday, enough qty to keep it moist.

You can cut 2 2L soda bottle, cut one at almost the base and make lot of holes, then the other one, cut like 1/3 up from the base. Put the one with holes inverted into the bottom, fill it with some water, then put the plant ontop of the one with holes then close the bottle up with the 2/3 top. This will give the plants moisture without soaking it wet. It works if you dont have moss available.

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Update on this one...doesn't look good.:(
But while there's green, there's hope.:bowing
I've been watering the area around the pbulb with a syringe every two days to keep the humidity high in the root area without soaking the pot to avoid rot.
Maybe there's a big surprise comming up under the medium.:)
http://i1343.photobucket.com/albums/...pszvzrmkfa.jpg
http://i1343.photobucket.com/albums/...psqukolzjc.jpg