Apart from visiting Arcadia for training, I'm finding it very slow when it comes to leveling alchemy. I have lots of ingredients at the ready (some pretty rare ones) so I don't want to waste them by experimenting.

So does anyone know of any good potions which quickly level your alchemy skill? (It would be nice if they're valuable too)

Cheers

http://www.uesp.net/wiki/Skyrim:Potions#Standard_Potions's a list of all the standard potions.

Also, can someone explain to me how Alchemy actually levels? Is it based on the value or strength of the potion? or how rare the ingredients are? I'm interested..

Mix together Giants toe and wheat to make a fortify health potion. A well as selling for a crap load of gold, you can level up your Alchemy mega fast alongside using the theif stone.

http://www.uesp.net/wiki/Skyrim:Alchemy#Gaining_Skill_XP.

Good effects are: damage magicka regen, damage stamina regen, regenerate health/stamina/magicka, paralysis, invisibility, slow. fortify is also usually good.

My 2 go to recipes for money are:
blue mountain flower + blue butterfly wing
salt + deathbell


My favorite recipes:

blue mountain flower + blue butterfly wing
blue mountain flower + blue butterfly wing + giant toe
bear claws + hanging moss
bear claws + hanging moss + giant toe
slow: deathbell + salt
garlic + salt + juniper berries
garlic + salt + nordic barnacle
snowberries + purple mountain flower + bonemeal

Invisibility: nirnroot, vampire dust, chaurus eggs, ice wraith teeth.
Paralysis: canis root, briar heart, swamp fungal pod

It depends purely on the value of the potions you create.
If you make stronger potions, it gets more expensive. Taking perks in alchemy to make stronger potions, and wearing enchanted alchemy gear will help you a lot.