You seem to be on the right track,but I'm a little confused as to where you are seeing the roots. In the insert? Are they coming out of the bottom of the pots dainage holes? I would take the plant out of the pot and look at the roots. If they are really entwined and obviously root bound, then I'd say yes repot it. But don't go up any more than 1 size, there should me a fingers space between the side of the pot and the soil. I use MG soil as well and it seems to work well, I do ammend it with perlite for more loose soil. I do this with all my plants. If you get the kind w/fertilizer in it, don't feed your PL for 3 months, when the fert is gone from the soil. Good Luck,

Usually, PLs are divided instead of repotted, but either can be done. First, your tree is not going to die if you can purge your thought process of the idea wilting means the plant needs more water. Have faith in the idea that plants in a damp/moist medium will always be able to take up water more efficiently than plants in a wet/soggy medium. The recovery will take 1 of 3 paths. 1) New growth will stop and the leaves will remain in a wilted condition for a period of time until enough new roots are generated to meet the top's moisture needs, Soon after the plant regains turgidity (stops wilting) it will resume growth. 2) Many leaves will die due to the fact a lesser volume of roots isn't going to be able to meet the moisture demands of the pot, which will cause the plant to literally wall off the leaves to prevent further moisture loss, or 3) you could remove at least half of the existing leaves to easy the o/a demand for water. If you do that, concentrate on removing the oldest leaves. If you look very carefully. You'll see the younger leaves are attached to the crown above or closer to the center than attachment point of older leaves. Resume fertilizing when you see the plant pushing new growth. Al

If most of the roots died, you should cut those rotting ones away to prevent spread. Then once you see what kind of healthy roots you're working with, you can decide an appropriate size pot. Even plants on the brink of death at the hands of humans will still try to live, so signs of new growth could mean one of two things: a) you've fixed your over watering problem and the plant is getting better Or b) the overwatering problem has gotten worse and the plant is desperately trying to stay alive despite our best efforts to kill it. Lol.

That PLs are usually found in riparian settings (streamside or in boggy environments) where they naturally occur is absolutely no cause to believe they will do well in boggy soils. They adapt well to various types of water culture, and perform very well in fast-draining, well-aerated soils, but should be expected to perform poorly when asked to make the transition in soils from lengthy periods of significant saturation to times when the soil has dried down and become reasonably well-aerated and more hospitable to the plant. The reason, as has been pointed out, is the fact that the plant will grow roots structured to allow the plant to deal with one or the other set of conditions, but not both in a cycle that starts with a long period of saturation transitioning to the more appropriate moist (rather than wet or soggy) medium. How well a soil drains is determined almost exclusively by the size of the particles it is comprised of. While the arrangement you have with the pot sitting above the effluent in the collection saucer is commendable, it has no impact on how well the soil drains or its level of aeration. 1. How often should I water? Intervals will vary with season, light load, amount of air movement, ....... Unless you use a soil that allows watering on a schedule as opposed to on an 'as needed' basis, and yours doesn't, you should absolutely stick to watering only when the plant gets dry to the point it needs water. In fact, in spite of the stress it would create, it would actually be better if you waited for this plant to exhibit signs of the first stage of wilt before you water than to water before the plant need it. I'm not advocating using drought stress indicators to signal the plants need for water - just trying to establish a feel for the idea that a little under-watering is less limiting than over-watering. For this plant, marking your watering date on the calendar and OCCASIONALLY waiting for the first signs of wilt to establish appropriate intervals between waterings is a reasonable strategy. If you'd rather, buy a wooden birch dowel rod (1/4 or 5/16") from a hardware or big box store. Cut into appropriate length pieces for your plants, sharpen the ends with a pencil sharpener, and use the pieces stuck deep into the pot as 'tells' that will let you know the moisture conditions deep in the pot. If they come out wet or stained dark from wet soil, withhold water until they come out clean. MUCH better than "watering gauges/meters". 2. What else can I do for this plant? The answer to that could easily fill a book. You could try reading this (click on link). I read someplace that liquid fertilizer once a month is good too. Yay or nay on that? To be meaningful, any advice regarding frequency of fertilizer applications has to take into consideration your soil choice and watering habits. For example, if you water in small sips to avoid your MG soil remaining soggy too long, a one month interval at the regular rate is an automatic problem for more than one reason, and the type of fertilizer as well as its NPK %s both play a part in determining the criticality of the issue. If you're using a soil that allows you to water at will w/o the need to fear consequences centering on the fact the soil will be saturated for a length of time measured in weeks, you can actually fertilize at low doses every time you water, which is how I choose to fertilize all my plants during the winter. One type of soil (those that are very water-retentive, like yours) make it almost impossible to maintain control over effective nutritional supplementation; other types of soil that support little or no saturation make establishing and maintaining a sound supplementation program monkey easy. Al