Life to Air is still a lot more profitable than Truegold.

At the moment, I'm doing Truegold on the team that is 525 Alchemy.
Specifically to get 60 Truegold for the Vial of the Sands, or whatever it is called.

But am going with Life to Air, for the other alchemists.
The profit is greater that way.
I'm averaging 10-12g for the Life, and 20-22g for the Air.
So that is approximately 150g profit per alchemist, which is still rather decent.