What would you do with this phal?

[Kim in CT]

This was my first orchid, a discounted rescue that I was able to rebloom successfully. That's the good news. The bad news is, I repotted from moss to semihydro without knowing anything about timing and new root growth, so I nearly killed it. Most of the roots rotted away. The good news is, I treated it with KelpMax in an inverted plastic bag (thanks, Ray), and 8 MONTHS LATER it is finally growing new roots (see pics)!

So, what should I do now? The lower leaves are dehydrated and/or dying. The top 4 leaves are nice and turgid, and the new roots are forming about 3 inches above the LECA. There's a nice aerial root up there, too. Do I repot so the new roots are at the top of the medium? Submerge the aerial root? Chop off the bottom trunk before repotting? I can see one lower root going down into the LECA.... maybe that's what kept it alive?

What would YOU do?