Okay bob13 here is the deal...
1) All docs (DO and MD) who have sub-specialized have already completed the IM residency (this is REQUIRED in order to SUB-specialize) and are thus eligible to sit for board exams for straight IM if they chose.
2) I assume that when you are referring to 'straight IM' you are referring to the hospitalists...the docs who take care of only in-patients.
3) The general procedure goes something like this... in the 2od year of IM residency, if you chose, you would apply to a subspecialty and interview late in that year throughout your 3rd year. You can do anything from Sports Med (1 year) to Cardiology invasive (~4 yrs). Thus you can be in training for as little as 3 years (Straight Board Certified IM, many hospitalists do this) to 7 years (Cardiologists, GI, etc subspecialty Boards). Some will also offer a special fellowship tacking on an extra year.
Just a friendly tip... if you have any more questions about IM you should go to the Graduate Medical Forums: Internal Medicine and Subspecialty and post there.. the docs there can be very helpful and nice. 😉
-Ryan