[aylad]

Below is a list of SOME, and I do stress SOME (not all), of the ingredients I've found in alchemy recipe books...

THAT HAVEN'T BEEN ADDED TO THE GAME:

giant bat's wing
ghost's ectoplasm
xan's wing
dragon's steak
zombie's corpse
lich dust
hill giant's hand
goblin's liver
skull's tongue
pixie dust
woman's head
beholdereye
snake's skin
apple (yes, it's in the game, but it's VERY rare except possibly through Create Food... and CF won't let you put it in a cauldron)
fire para-elemental's residue
dragon scale
ice para-elemental's residue
orc's heart
chinese dragon's steak
madam's corpse
sage's head
madman's head

Interesting list, no? WE NEED THESE ITEMS ADDED!!! We need the creatures that produce these items added...

To answer your question, just a few of the currently working recipes in the game are:

(pile/bottle) of philosophical (sulfur/salt/phosphorus/oil)
water of the wise
dust of biren's mist
mercury
dust of concussion
dust of ignition
water of (ruby/sapphire/diamond/emerald)

Please note that none of these are actually useful... sure, the dusts may or may not work... but it's cheaper and easier to just buy spellbooks. I mean, you're an alchemist, right? You can obviously use magic...

The first set of recipes (the philosophicals and water of the wise) are profitable. Take seven piles/bottles/waters of the appropriate type, place in cauldron, boil. Mercury isn't. Dust of Concussion isn't. Dust of Ignition requires three diamonds. So obviously it isn't either. The waters of gems aren't, since you only get one water per three gems and you can sell the gems themselves to alchemists and/or weapon-users for more money.