I thought I would post this for anyone else who had leveled a transmute speced alchemist after 4.0.1 and was disappointed to find out that you could no longer learn to transmute epic gems from the trainers. I wanted to remind those of you in my situation that although we are missing out on hundreds of gold a week, we can still make some money with our transmute cooldown!
Transmute Water to Air and Transmute Water To Fire are what I’ve been using on my unfortunate alchemist. You have to discover these, but hopefully you already know them!
If you don’t, the way I discovered them was buying cheap saronite, transmuting it into titanium (no cooldown) and then using the titanium with my other professions for a bit of a profit. It might not be much profit if you don’t have access to other professions to get better use out of the titanium, but even if you sell the bars you should break even, and with any luck you will quickly discover one of the more useful transmutations.
Currently Eternal Water is priced at under a gold on my server, and Eternal Air and Fire flip around, but usually settle around 20g (though Fire is more consistently around 20g, Airs tend to sit around 10, but can suddenly jump up to 50g). I always check the prices on what is available in the AH, then transmute whichever will make me more gold that day. The best part is that if you’re lucky and your transmute procs, you could end up making the same amount as if you were selling an epic gem.
Many of you probably already thought to do this, but in case any of you were letting that cooldown go to waste everyday, perhaps you can start using it before Blizzard fixes the issue, or Cataclysm gets here, whichever comes first, lol.