Boy did they perk up! That's great! I agree with Brook; your first pics were a little sad. You have plenty of good roots to revive your Phals. Any root with a green tip is perfect; it means the root is growing and you never want to cut (or accidently break) them off. You did a good job repotting. What did you decide to put them in, spraghum or bark??
I'll be the first to smack Jenny upside the head!!
I would cut the spike. If this were any old Phal that did not have sentimental feelings attached to it I might chance it, but this is a special plant and you want all of it's energy going into healing and growing roots so it lives to see many more anniversaries. Secondary spikes are always substandard with just a few, smaller flowers and not worth the chance. Get you orchid healthy and it will bloom for years to come.
BTW - your 'first child' is adorable!