I am seeking clarification on the above and it's application to play with the created item from the formula. So let's posit it as a practical application:
1. I am a gunslinger pistoliero, level 12.
2. I have alchem crafting feat and the formula to make "Exsanguinating Ammunition (greater)". I spend the time, pay the 80gp costs for reagents, and successfully craft the dose of ammo.
3. in play, I want to "use" the ammo. My assumption is the following on action costs and processes:
A - pay 1 action to ACTIVATE (manipulate) the ammo. I expend the alchemical ammo for Exsanguinate - greater.
B - then, pay 1 action to SHOOT a pistol at the target with the activated exsanguinating ammunition. I expend the shot, if I hit, then...
C - the round does it's normal damage PLUS the Exsanguinating part.
Is this correct? Or would I have had to actually activate Exsanguinating Ammo, then, then LOAD that ammo piece, then shoot?
Or am I missing something more fundamental?