Repotting a Phal hybrid--suggestions for a beginner?

[vlhart]

Hi there--

I'm very new to orchids and just bought a phal hybrid at a big box store that looks pretty root bound (the roots look healthy and don't seem rotted from what I can see).

Questions:

From what I've read, it seems I should wait to repot it until the flowers have dropped and the spike has dried and I should put new media in and clip any dead roots. I'm planning to use a Phal orchid mix from Repotme that's mostly sphagnum moss--Good plan?

I've read that I should put cinnamon on the ends of the roots--but I've also read that doing this will dry out the roots--what do you suggest?

The orchid is currently in a plastic pot with one hole in the bottom. I live in an apartment in NYC and have low humidity so I've read that it's better to keep it potted than in a wooden basket. Is another plastic container best or would you recommend something else? Does it need more holes than just the bottom one?

Any tips and suggestions are welcome!