Apr 15th 2010 11:28AM I dunno why the author doesn't like the idea of transmuting & cutting epic gems, but since they added epic transmutes I leveled 2 more alchies (to give me 3), all xmute spec.
Every day since, I log in to my JC, burn my Icy Prism CD, send off the gems (and eternals) to my Alchies for epic-ification and then back to the JC to be cut & sold into the most profitable cuts.
Now on my server the value of those mats is a joke. Maybe 5g for the frozen orb, 15g for the 3 green quality gems, 20g for the eternal and 60-100g for the gems produced by the icy prism.
Now up until the last patch, high demand epic cuts were selling for 175-250g each on my server. Factor in the transmute procs (I've averaged about 4.5 gems out of 3 xmutes per day) and materials worth 140-150g were netting me 800-1000g PER DAY! and doing so took all of 5 minutes on 4 toons. I had my own mats farmed up but you could easily do this never leaving the AH.
Unfortunately the market for gems has crashed pretty hard in the last month, gems sell for half that price now, so the party is over (at least on my server). The cut or raw gems now hardly sell for more than their mats. Im burning off my remaining supplies, thanks to xmute procs you can still make a small profit using this technique but its much more in line with the other professions