Quote:
I love being able to make my own pots/elixers without having to wait for them on the AH. I make a good chunk of cash too, but it isn't as profitable as Jewelcrafting or Enchanting.
This.
Alchemy is fun and useful, especially for leveling, since you can make great potions while questing. However, it isn't a great money maker (although you can probably turn a profit) compared to jewelcrafting or enchanting, and nowhere near the profit of gathering professions.
In the end, you take it for three reasons:
1. You like it (why I took it up on my mage)
2. You like what it gives you without the expensive price tags attached on the AH (could still be more expensive than buying off the AH, but it doesn't
feel like it.
3. You want the BoP stone at the end of all the hard work.
If you don't reach any of these criteria (or the 4th one: you feel you've invested too much to turn back), then drop it. Take tailoring if you'd like some amazing PvE gear.