Im Elixir Mastery since I rarely do transmutes anyway do Elixirs & Flasks fit me more since i use them more also. So i do quite ok. Its even more beneficial since I also have every Flask Discoverable through Alchemy so can make them all. If you make a lot of Potions/Elixirs like i do you discover a lot of them through alchemy and can me quite profitable. However it helps to have herbalism high and have a Bank stacked to the brim with so much herbs you have to create alt bank toons to hold them all.

I sold 12 Flasks of Pure Death in last 4 days on AH. Thats 45-50g x 12 = Awesomeness. But then again, i dont need the money, im already Rich with over 11k balance sheet.

You can do well if you master your professions.