Extremely Dehydrated Orchid: What to do?

[Justine]

Before I really knew anything about orchids, I received one as a gift. I ended up being sort of neglectful to it and it is now severely underwatered. I'm wondering if there's anything in particular I can do to bring it back to life.

The stalks are brown and pretty dry, and the leaves are really limp, but still green. I soaked it in a pot of water the other day and noticed that the roots still look pretty good-- nice and green when wet.

Anything else I should know/do? And does anyone know how likely it is that it will come back after being neglected so badly??

Thanks!