go ahead and repot it now. decide how many roots are still good after you trim off dead. if there's still several good roots, then just leave the spike. if there's very few left the cut the spike off and let the energy go into making new roots.

Looks like I got a pretty good bunch of roots to work with, so I'll go ahead with the repot. From what I've been reading, phals are pretty easy to care for, so I would assume that would include being forgiving to the care of an amateur. Like I said, my first orchid, so thanks much for the advise.

just feel each of the roots. the good ones will be gray/white and firm and the bad ones will be brown and mushy or hollow. cut off the strings inside the hollow ones too

Once a Phal makes a spike it usually fights to the bitter death to keep it. I have one flowering right now which has completely dropped all its leaves. They are not meant to be deciduous. Do what the hell you like to it, you will not prevent it flowering. The big challenge is get the b*****s to go into spike in the first place! - Ian.

I have to disagree. I've had spikes abort with a change in temps. I've had them abort with a repot. If I really wanted the flowers, I'd wait unless the plant is rotting. Doesn't sound like it is.

Jane