This is a relatively new plant, Geoff - it was in very early spike when I got it, and I was so afraid it would contract the dreaded "bud blast" that I scarcely looked at it, never mind repotting it. It is in a fine bark mix, but will go into S/H after it finishes blooming and I see some new growth pushing out.

I think the best indicators I have for how it will do is in assessing the other orchids I pulled out of sphagnum and placed in S/H, and particularly the phals since it reminds me so much of them. I don't have any other Aerides, but I do have a Phal equestris that actually arrived at my house at peak bud blast (it was supposed to be blooming size, but not in bloom!) and I repotted it in S/H after it recovered a bit. It was in sphagnum when it arrived, fully dried out and very unhappy. That was 6 months ago or so, and it has since started to thrive. I also took a giant Phal. hybrid out of a 5" pot of sphagnum moss and put it in S/H 4 months ago, and it is holding on. I have a very poor record with Phals, for some reason; perhaps they know they are not my favorites? But these are doing well so far.

I have found that, with my erratic cultivating habits, sphagnum moss is not my friend. It seems to stay soggy for weeks on end, and then suddenly dry out when I wasn't looking. As for the Sedirea in particular, I have pored over Bakers and found that they recommend a fast draining medium, with drying out in between watering. They also recommend intermediate light and intermediate temps. So, that is where and how mine is until it protests.

I don't know if any of this will help pull your Sedirea out of its tailspin, but I would definitely go orchid shopping in Budapest!