Equivalent Exchange. Philosopher's stone not working in craft?

[madmansam]

Have they changed the item to convert items or something because i cannot get it working and i would like to make a sugar cane to diamond farm. please let me know.

Thanks

[MechaCrash]

Everything in Equivalent Exchange was overhauled. I suggest reading the wiki, but to answer the question at hand, there is no longer a direct path from sugar cane to diamonds. The only things you can transmute between using the stone are changing between iron and gold, and gold and diamond. You can also step up and down between charcoal, coal, alchemical coal, mobius fuel, and aeternalis fuel.