I think it's a great idea to formalize the field of EMS/Prehospital medicine, and focus more on clinical aspects rather than (traditionally) administrative duties. If you go straight to the horse's mouth here:
http://www.saem.org/SAEMDNN/Portals/0/AM2010/didactics/handouts/EMS_Fellowships.pdf, it discusses the NEED for making this a formalized subspeciality.
"Substantial variation exists nationwide in how medical oversight and review are conducted; in many localities, physicians with little or no training and experience in out-of hospital medical care provide this service. The committee believes that physicians who provide medical direction for EMS systems should meet standardized minimum requirements for training and certification that are reflective of their responsibilities...
That presentation also notes that the major delay in this standardization through a formally recognized & boarded fellowship/subspeciality was the feeling that EMS was too much administrative work, and not enough clinical, leading to ABEM's decision on July 31, 1997 electing not to pursue formalizing this subspecialty.
Re: the requirements, I think they know in general WHAT they want, but not necessarily HOW to achieve it. That bit is going to take some time. So for example, when it comes to TEMS, what are the requirements? Training only? Actual field experience? If so, how many hours? Or is it sustained? If a program does not have sufficient/adequate TEMS experience locally, do they not qualify for certification?
Being someone who's intent on pursuing an EMS Fellowship, my sense from my conversations with various fellowship directors is that most programs are keeping a close eye on this, but also realize that it will more than likely be a year or so until the curriculum & board exam are finalized, and then another year or two until progams are actually certified. So it's gonna be a while.
So my take is, it's great, but doesn't affect me @ present, and more than likely by the time it is all said & done, those of us who have completed the fellowship already will get grandfathered in.
That's my $0.02.