Though I've already documented hundreds of alchemical formulae in my day, the possibilities for new ones are truly without limit.
And you never crossed the concept of "Equivalent Exchange"?
Many of these items seem to require components to make them as though your just assembling a new toy-set you just bought out of the box. I get no feel of 'transmutation'.
an example of this would be the joker card. It requires scissors, plastic, paint, ect. Do you really need alchemy to do that?
Another example, that you 'almost' got right, are the Tsunami KO shirts.. Ink? I could get a feel if it just required the shirt and the shark's blood, but why can't I just soak it in the ink? The requirement of both are unnecessary.. Use the blood if you want to use the alchemic approach and the ink for a 'recipe' approach.
Finally, so much is required! this is a lot of work and heavy on the wallet.. May I suggest lowering the requirements and increasing the fail rates?
I adore this idea, I really like how your approaching it for the most part.. But please.. this needs some MAJOR re-balancing.
Remember the manga about zOMG in which Nicolae was selling items that were a little bit fishy? Alnulurua's Rose?
Or the first thing Nicolae made with alchemy, your hat! Cresento, you may not want that hat made from cheap materials, but I do!
These formulas would be for one- or two-pose items that would look very similar to expensive items, but with some noticeable tweaks. Or maybe they'd just look really goofy. Or maybe both!
But the materials for these items would not be expensive collectibles or items from RIGs because that defeats the entire purpose. These items are to make us poorer folk who can't afford to buy RIGs and EIs all the time (I include myself in this despite the fact that I do have several EIs and RIG items simply because I can no longer afford them, though I did buy them in the past) feel like we can make interesting avatars, too.
The materials would ideally be high numbers of items that we normally regard as trash or inventory clutter.
You know how the Daily Chance gives out tons of swimsuits, amigo pants, and sometimes silk boxers? Well, why can't those be ripped apart and sewn together fused together with alchemy (hey, no seams! Cool!) to make some sort of demonic cloak or something (I don't know; you think of something!)? Sure, it would take a lot of them to get the item-- not all of that fabric is high quality enough to work in alchemy, of course-- but it would be something anyone could get without needing lots of money or lots of luck.
Plus, it's so in-character for Nicolae to be selling products like that!
Although when I think about it, Cresento wouldn't really approve of such things, would he?
TL;DR // Knock-off items made from high amounts of cheap materials.