Hey there,
I am a Pharm D and from what I see I can tell you a few things.
1) To work in a hospital you don't need a residency aka to just be a clinical pharmacist (which is the new lingo for a staff pharmacist who does some clinical work 1-2X per week)
2) To be a clinical specialist you need a residency absolutely. Depending where u wanna go, you might need a speciality residency as well. That's 2 years on top of Pharm D.
3) When you become a clinical specialist, your financial status does not improve, you actually make less than the clinical (staff) pharmacist, because they are hourly and specialist is salaried. On top of it you are doing a lot more work. You have lots of little projects, like making some guidelines, presenting at meetings, enforcing policies of your institution and so forth. The up side is that you get your office, do more cerebral work, but if you want to get cash, don't go clinical specialist. Finally, clinical specialist know a lot, but don't have much input in decision making. The physician is the boss, he can override you if he feels like it. You can make your reccommendations but really it's the doc with who the buck stops with.
Based on this info, my reccom is:
1) If you want to stay in hospital and know that you want to do it for the rest of your life, an MD degree is worth it. Yea you do lose some money in the beginning, but depending on the specialty you will even out in roughly 10 years. But then you make 50-60 G's more than a Rx, so you will surpass. Second you will finish med school much smoother because of pharmacy background. In actuallity a lot of medicine, deals with drugs. Yea you have to diagnose, but really when you are following a patient on a day to day basis as a medical student or a resident, you are fine tuning the patient's drug regimen. As a pharmacist you will shine there.
2) If you don't want to go to med school, but you want to get distinguished as a pharmacist, best way is to go the research route. But that would include, get a fellowship, then get hooked up with a university, b/c they will let you do benchwork and then work for 5-6 years for $40000-60000/year, 60-70 hrs a week and always fight for grants and need to get published. However, after all is set and done about 10-15 years, you can easily make 100000+ as a researcher, even 200000+ if you go into pharmaceutical industry.
3) If you want to be in a hospital environment, but be involved peripherally, do your work but have your time off, then a clinical specialist might be a good position for you.
Bottom line do what you love, because in the end you will live with it, nobody else. Hope this helps. Best of luck.