IME folks who apply PA as a backup are very rarely satisfied as PAs and spend their careers wondering "what if?"
I'm sure this does happen...for us older applicants though who might finish residency at, say, 40-50, I'll bet there's an equal number who think they've waisted a good portion of their lives just to work themselves into old age.
Just a thought. As an older applicant I can empathize with the OP.
If I may come clean: I applied PA this last application round. The schools I applied to had DO and MD schools attached to them, and in two places I was accepted to both the MD/DO program as well as the PA programs. Both sides seemed completely oblivious to my other application. The admissions department spends so little time on each application, I highly doubt they have time to cross reference each app. with their other schools, eg the school of public health, PA, nursing, etc.
I did not apply PA as a backup to my med school application as some people would suggest, just as I didn't pick DO as a fallback either. Rather, I applied to all the schools to give myself as much time as I could to make a rather big decision.
Yes, being a PA is different than being a physician, however as PremedIowa said, I agree that many of us would be happy with either path (I know I would), although I believe I will be happier as a physician.
Some schools actively prohibit applying to more than one program at a time.
I've never heard of this, and I knew several people applying for PhD/MS/DO/MD programs simultaneously, but it is worth reading through the application instructions for each school thoroughly.
Good luck Free2 with the application process!