You have asked a question that has been asked many times. If you do a search you will find many past threads on the subject.
I've included a link to a long past thread.

Here is a link that might be useful: Past thread on this subject

That's what I do. Cut the spike off and let the plant grow a new one in the Winter.

Jane

I cut mine as soon as the last flower or two are wilting. I'm actually anxious to get new root and leaf growth after the flowering cycle..

I cut mine as soon as the last flower or two are wilting. I'm actually anxious to get new root and leaf growth after the flowering cycle..

My opinion: always cut it.

I like the cheap thrills of getting the plant to re-bloom quickly on the existing spike. But, since it's so late in the season (would probably spike again in the fall anyway), and because your plant is putting out a new leaf, I would probably cut it back and let it focus on the leaf growth for now.

I decide if the plant is healthy enough to rebloom and act accordingly. It sounds like the plant is doing well, which is nice. Since it has a new leaf coming, you might as well encourage that. As for season, where I am it is still summer and I have a phalaenopsis that decided to put out a new spike, only discovered this weekend, so it's not the end of the season here anyway. A bit late, though....