[@WildChocobo]

You won't be summoned with jewels, you'll need to make them.

[quote]With the assistance of his Noble Phantasm, the creation of the 'Elixir of Life' is possible which is a powerful potion capable of granting immortality and reviving the recently dead.[/quote]

Limited immortality only.

While he is a pretty big deal for Alchemy, he isn't an Age of Gods magus or anything, so his magecraft won't be something "unimaginable". Use Paracelsus as a benchmark. 

We know what the Philosopher's Stone is in canon and it isn't that; see Paracelsus's stuff/Dust of Osiris's stuff/Moon Cell stuff for more information. If you're having a hard time finding that information then let me know.