Being an alchemist in WoW has always been a solid choice from sheer utility if you actually like to just make things and sell them. It is also a solid, but unexciting money maker. Transmuting epic gems and selling flasks to raiders won’t make the massive amounts that inscription can manage, but doesn’t require the time investment either.
In any case, patch 3.3 has some perks coming for alchemists:
The titanium transmute is coming off the cooldown. This is the big one, and it’s an interesting tweak. The only use of titanium bars (which are what alchemists transmute) is in making titansteel and a few jewelcrafting recipes. Titansteel is in high demand for making all sorts of high end craftables — including whatever recipes will drop in the new raid. This change will mean that titansteel is no longer reliant on rare titanium ore; instead the bars can just be transmuted from saronite.
The price of titanium bars and of titansteel should come down … assuming people notice the change in the patch notes. But the ore (used by jewelcrafters to prospect epic gems) will remain as rare as ever. Or in other words, if you’re planning on buying titansteel, wait until after the patch.
Alchemists will be able to transmute an epic gem every day as well as the titanium.
And also, the start of a new raid instance is always a good time for alchemists. Every raider will want flasks. Lots of non-raiders will want potions to help out with learning the new 5 man instances also.