Yea, go ahead and repot it to the next size pot. Don't go too much bigger, cyms like a snug fit. Just use a regular bark mix. If the big dark bulb is hard and crispy, it is prob. dead. You can remove it if you like. Try to remove as much of the old potting material as you can when you repot.

My suggestion is to get a slightly bigger pot, cut the old pot off without doing any more damage than necessary to the plant. Put some potting soil in the bottom and around the edges, then water and fertilize through the fall. During the winter, keep it protected from getting soaked in the rain, pretty dry. Then some time between Mother's Day and the 4th of July repot it again, this time a real cleanup and removal of the dead parts.

Right now a full repot will set it back more than it will help.