Here is a close-up of the yellowing leaf. Should I remove it?

Don't remove the yellowing leaf. It will fall off in good time. On repotting, It's a personal matter. I don't do well with Phaelies in moss I water too much. I get rescued Phaelies all the time. Right now there is a bag with 4 of them in the living room. My in-laws bloomed them and then instead of tossing them they give them to me. I keep the healthy ones and when they rebloom make them available to my family.

I take them out of the moss they are usually in and put them in Aliflor some in semi-hydroponic others just straight. That's what works best for me. I would have all orchids in the same material if I were you. Barks works well for them.

Nick

Thanks! I ended up doing 1/2 moss and 1/2 bark - they're in clear plastic pots which makes it easy for me to monitor the moisture level - May go to just bark mix if they seem to stay wet. Realizing as you say it's what works best for each person/situation not just the plant. I was happy to find that despite the sogginess most of the roots were healthy.