I've been thinking of using the Ceremonialist Value from Heroic Fantasy Handbook as a base for my Grand Alchemist class (switched to Arcane, with some refluffed shadeless Eldritch spells added in where they fit the concept well). The best way to pull this off would be to make my Grand Alchemists onlyable to use Trinkets, representing alchemical preparations they can make in advance.
Question is, how many Class Powers is normal Ceremonial Magic worth, minus trinket use?
ceremonial magic is already so cheap from an XP standpoint that I suspect reducing it further would produce bizarre results.
I love the idea of an alchemist as a flavor/reskin of ceremonialist, but I don't think you need to do much to make it work. Normally performing a ceremony represents making some sort of alchemical tincture that is too unstable to carry around with you, it must be administered immediately.
Sorry, I know this isn't what you asked for, just my 2cp :-P