This is a first bloom seedling of a 'red' (actually more like magenta) form of Rhynchostylis gigantea. The species comes in a few other color forms, the most common probably being white with pink markings. Flowers are lightly, but sweetly scented, and borne in high numbers on a mature plant. Also, the leaves have interesting longitudinal stripes for added interest. It is not a very big plant though, despite the name.
Mine lives in an East-facing window in a 4-inch basket with diatomite, and gets watered ever day or every other day. Some sources say it requires higher, cattleya type light but since this one bloomed in lower light that may not always be the case.
At the right is Bulbophyllum grandiflorum 'Yellowstone River' AM/AOS. I bought this as a few growth division from Woodstream a few years back. The flowers are large at something like 4 inches long and develop quickly from a just started inflorescence to open flower like other bulbophyllums. I have not noticed any fragrance but I haven't gone looking either since some bulbos are very offensive. This plant is creeping around in a 10-inch pot, also in an east facing window.