
The Rot Grub |

The chart of actions in the Combat chapter lists "Prepare to throw splash weapon" under FULL-ROUND actions.
So, assuming I don't have the Quick Draw feat, is this correct?
Round 1:
I draw out the alchemist's fire (move action, provokes AoOs)
I begin to prepare it to be thrown (standard action, provokes AoOs)
Round 2:
Finishing preparing it (standard action, provokes AoOs)
Note the following quote from the Combat chapter:
Start/Complete Full-Round Action
The “start full-round action” standard action lets you start undertaking a full-round action, which you can complete in the following round by using another standard action. You can't use this action to start or complete a full attack, charge, run, or withdraw.
Round 3:
Throw the alchemist's fire (standard action, provokes AoOs)
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The Prepare a splash weapon action is for Oil not Alchemist Fire
From Oil in the CRB
"A pint of lamp oil burns for 6 hours in a common lantern or lamp. You can also use a flask of lamp oil as a splash weapon. Use the rules for alchemist's fire, except that it takes a full-round action to prepare a flask with a fuse. Once it is thrown, there is a 50% chance of the flask igniting successfully."

Rogue Eidolon |

I'm pretty sure the "prepare to throw splash weapon" option is for turning a flask of oil into a molotov cocktail (complete with lit rag), NOT for throwing a flask of acid or alchemist's fire (which is ready-to-go).
But you...I...me...Nani Pratt...Paizocon...I...
::HEAD EXPLODES::