Stanhopea blooms will come out form the bottom of the basket
like this and I would think that your plant, which looks like a division off a mature plant, isnt' too far form blooming. I had one that bloomed when it had about 5 leaves on it. Mine had a distince growing cycle then a blooming cycle so I wouldn't expect anythign to happen until the new growths are finished.
It's not true the blooms last only a day but they are short-lived. Mine lasted about 5-6 days. For this reason you seldom see them at shows and for judging.