Better Living through alchemy !

For the support alchemist, there's no reason to skip the ultimate whenever its available. While you won't care about the BAT decrease, you still get health regen, movespeed, and a health bump for 50 mana (you get mana regen too but it offsets the cost by 25 mana).

I like Your point of view. +1

I think that describing skills for Alch is very difficult job, because they are very dependent from situation even at level 1.

When there is strong harrassement stun is very good, with good support I would chose acid, and when tere is very easy lane - additional money is the key

And I can't agree, that this carry is stronger only in "early" late game.
Because of ultra fast farm in late game, he can overtake all carries in opposite team when played well.

No Armlet of Mordiggian as a post-core item? I think it's more than a situational, as your level 3 ultimate makes the degen insignificant. Also, I'm pretty sure I've seen a lot of competitive players opting for the Shadow Blade build (if they manage to get it by ~10-15 minutes) and extending into Armlet and Cuirass.

Overall it's a pretty solid guide, and I liked the fact that you chose to build the Assault Cuirass before completing your Mjollnir in build 1: the armor is a lot more important when you already have some AoE from the Maelstrom.

Finally, the lack of a Soul Ring and a Hand of Midas between the must-buy items (but present between the situational/afk farming items) makes you get a +1. Keep up the good work! :D