Mothorchidgirl:
Wow - what a nice looking phalae" - good color combo and a really healthy plant. Nice snag!!!
If you acre going to cut the flower spike off, you might think about trying to root the nodes - there is a post in Adv. discussion starting out "Method for obtaining 12 plants...."; you could end up with a lot little ones to share!
I think you have a good grip on what to do. The potting mix looks pretty new and the pot appears to be sufficient. Personally, unless you don't like plastic pots, I would leave it in this one for a while longer. The roots look great!
Again - good grab.
Steve
Have a Great New Year