» Sat Dec 17, 2011 4:07 am
I've used both, and I've got a lot to say about both (though I've gotten farther in Alchemy).
For one thing, it depends largely--almost entirely--on what attributes you're investing in.
If you've got the magic to spare, use Restoration. It's not just free healing any time you please, but also free stamina, extra magic regen, ally healing (if you're into that sort of thing or playing the game on higher difficulties), and lets you own undead like you wouldn't believe; they won't stand a chance. And, most importantly, when it comes to healing, Restoration heals a whole crapload, more than Alchemy could ever hope to. Let's put it this way: once you get your Restoration up to 20, you can get three highly important perks: dual casting, novice Restoration, and regeneration, which makes healing spells heal 50% more. That means that, with only a skill of 20 in Restoration, a spell that you start the game with can heal you for 36 points per second (and cheaply!), which, if you didn't know, is incredible--good self-made potions won't heal you for 36 points per drink until your Alchemy skill grows a lot higher than 20 (not to mention the fact that it's a chore just to get the ingredients, especially since some ingredients have better magnitudes than others). It's essentially both free and infinite healing, as well as stamina regen with the proper perks (36 per second, again), and the spells get a whole lot stronger than that. In fact, the first apprentice-level spell you get (basically low level, only higher than the most basic healing spell), called Fast Healing, will heal you for 180 points per cast given the right perks, which is much more than any one potion will do even well into higher levels of Alchemy skill--if a potion that strong can be made (one that doesn't have a negative effect, as well!), it can't be made until well after your skill reaches level 80, even with perks and Krosis. Also, you'll never run out resources like you will with Alchemy, since it's only magicka you'll use, and Restoration does more than just heal you.
That said, Alchemy has some selling points, the fact that it can sell being one of them (it's a big money maker). The skill can be a lot of fun since the entire world will feel like a gold mine full of ingredients, but that can get emotionally tiring sometimes. It can even get cumbersome: by the time your Alchemy skill reaches 40, I'll bet you can lose 100 pounds of equipment just by dropping all the potions and ingredients you have. Stamina is really important here, because you'll have more potions and ingredients than you know what to do with real soon--and I say more than you know what to do with since you won't know most of the available effects. Unfortunately, a lot of the effects you'll discover early on may be very useless to you, like fortifying skills that you don't use or giving you a weakness to fire on the potion that you use to restore stamina when fighting dragons.
Poisons can be useful, but mostly only damage health and paralysis poisons. Magicka and stamina damage makes very little difference on the battlefield, and "weakness to" poisons are only useful if you have an enchanted weapon or use Destruction in the other hand.
The biggest problem is that potions (and therefore, likely poisons) do not stack; fortifying your Two-Handed skill by 20% and then using another potion that fortifies it by 30% will not grant you a 50% boost, but only a 30% boost--and not because 30>20, but because the 30% boost is used secondly in this case. That means that a great many of your potions and poisons are obviated as soon as your skill increases or you discover a new effect, which I find endlessly annoying. In fact, after writing this, I don't know why I loved Alchemy so much more than Restoration for so long; I should switch (especially since it takes up so much damn inventory space).
One final piece of advice: if you're going to use Alchemy and plan on making poisons, go fishing. River Betties have a greater magnitude of damage health than anything I've seen, by far. They're almost five times more powerful than other ingredients!
Edit: You can run out of potions. Remember that.
Edit: Avoid Death perk. 'Nuff said.