General information wanted about SHELF's

[Waysensei]

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I'm a 2nd year OMS and would like some information about the SHELF exams that I will be taking in the not so distant future. At the moment, I know very little about them. I understand that there is a SHELF required for each rotation. Are the rotation sites supposed to prepare you for the knowledge required for the SHELF, or is this something that I have to acquire through readings on my own? How would you compare the difficulty of the SHELF against NBME subject exams? Also, how important are they to residency programs? I am hoping that after finishing USMLE Step 1, that the amount of studying that I will have to do will decrease, but since a monthly board exam is required, it seems to me that will not be the case.