Alchemy Woes

Ok, I decided to give alchemy a try. I understand the concept easy enough and so far kind of seems like the items that can be tranmuted are not worth the ingredients it takes :(
I haven't found a list or write up on the economics of this. My problem to start with is the "know how" to make air stones in an affordable manner. Most everything takes many airstones. AH is about 7500 adena each in bulk. How does one make these for so cheap?

I take it no one else makes air stones? seems like too many in bulk in AH for not to be a way to make them cheaply.

i think most people use adena and crafting mats also if you have alot of hair accessories they can make a few air stones