i heard psychosomatic is the new official name for c/l. also for many psych specialities it is not necessary to do a fellowship. u just have to take the exam. for example for a degree in addiction psychiatry it is required but not for addiction MEDECINE (non-psych docs can do this one.) for c/l, pain, and a few others it is not required. just have to take the exam. however if u wanna do academics in that sub-speciality, u should do the fellowship.
of course for child i feel it is required. i don't think it would be a good idea of any1 without the child fellowship to practice child psych.
also for psych, fellowships in general are not competitive. only one that may be competitive is finding a gas based or even psych based (only 2 i believe) pain fellowships. also i believe there are courses or rotations that r below the level of fellowship and they may be for a few months like i think eating disorders. also they have fellowships in psyhcoanalysis. they range from 1 year to i heard of the PD at rosalind-franklin did a 5 year one.