So, I've been trying to figure out how this works, if at all. If you take Improved Eldritch Heritage selecting the Arcane Bloodline and taking the 9th level power, New Arcana, with an Alchemist, what happens? Since they don't have spells or spells known, does this do anything or is it effectively a useless bloodline for them?
Alchemists do not cast spells. I would say yes, it is effectively useless.
Also what are you using all that charisma for heh?