Just as an antidote to all the doom and gloom, I would just like to say that my alchemist is having a blast - she has reached level 10 so far.
I think the class is actually very well balanced, although it may not seem so to those who were expecting another OP TR-train juggernaut like pre-nerf Inquisitives.
But to those who complain about throwing DPS I would just say this: The class is not intended to be a pure weapon thrower, but to be a thrower of both weapons and alchemical compounds. The combination of throwing, practically free vial damage (4 AP, Maximise and Empower for serious single target damage at least till level 10 - at the cost of 1 Spell Point), and effective AoE damage, makes for a powerful toon, with the added bonus of AoE self (and party) healing.
Jack of all trades, master of none, but taken as a whole and not trying to concentrate only on one aspect of the build makes for a highly competent class.
As for those who say it is squishy, why in the name of all that is holy are you getting hit? Break out the sticky glue bombs!
This is a class that needs to be played reasonably smart, and not just run around with the DDO equivalent of a machine gun.
And if you are getting killed by traps, take a level of Artificer or Rogue for those. (Artificer is better because you can use a Repeating Crossbow until you get Battalion Brew at level 5, and you can get Evasion as an alchemist bonus feat).
As a hybrid build with AP fairly evenly distributed between Vistani Knife Fighter, Bombardier and Vile Chemist, you aren't going to be taking the level 20 capstones anyway. You only need 18 levels of Alchemist for all the other goodies. Whether it is worth taking the 2nd level of Artificer for Rune Arm use I have not yet decided. You will lose Alchemist Stone of the Subliminal bonus (+5% Doubleshot and Blur) but some of the higher level Rune Arms have pretty good Potency on them if you want to maintain versality for dealing with mobs immune to your main choice of Elements.
Of course we may one day get some higher level Alchemical Stones. Epic Alchemical Stone anyone?