I think you need to consider the species in the ancestry of the plant also. Several phalaenopsis species will continue to rebloom on old flower spikes, so cutting them off does not make sense. Phal. amboinensis, cornu-cervi, belina, violacea etc.
That being said I prefer to let spike die down naturally and then cut off close to the base of the plant. Usually I only cut off green spikes when I want the plant to focus on vegetative growth and rooting or I feel the plant just needs a rest from non-stop blooming.
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