I also recently picked-up two bargain/post-valentines day orchids at a local Wal-Mart. And like your bargain deal, mine came with some sad news. After bringing both plants home I dusted off the neon green artificial moss to get a better look at the roots. On the first plant I had only one good green/white root after removing the compressed sphagnum media. The second plant was a little more fortunate and had 4-5 healthy roots! I'll report back in a few weeks, but I took immediate action to re-pot both plants. I cut the flowers off the first plant to force it to save energy to produce more roots rather than towards new flowers (hopefully it will pay-off later).
Anyway, here are some before and after photos:
Here is the second plant in its original pot
You can the see the roots don't look too healthy
Same on the other side
Here is the first plant I repotted with 1 good root. We'll see if it makes it. You'll notice, again, that I removed the flower stalks
Second plant repotted
Second plant with flowers. I felt this one had enough roots to support flowers and further vegetative growth