Uh, two things.
1) Alchemy has a 1-minute casting time. If you can convince someone to sit still while you melt the magic out of their gear, I think you could just as well have run off with the stuff...
Craft two or three wands of Alchemy (silenced if possible). Sneak up on a sleeping party. Steal all their stuff (including the armor they're wearing and the fortifying bedroll they're lying in). Laugh. (Note: this takes as many rounds as the items you're stealing, not including move actions to reposition to a new victim.)
Originally Posted by Water_Bear
That's RAW for you; 100% Rules-Legal, 110% silly.
Originally Posted by hamishspence
"Common sense" and "RAW" are not exactly on speaking terms