Would people agree that M.D takes quite a bit more commitment than Phd? Obv Phd students have to work really really hard (I'm sure between 40-60hrs) a week, but I don't think anything can really match clinical rotations and residency to get the M.D.
Length of training: Mildly. PsyD/phD has around a median time to complete of 5.4 years. But even after you complete your degree you are required to complete an at least one year post doc to get licensed. So 6.4 years or so. Median income is around 88k. Compared to an md with a median completion of 4 years, plus 3 of residency. So 6.4 years vs 7. If you add in a speciality such as neuropsych, forensics, or medical psych the training becomes longer.
Residency: Next you might say "well residency is super intense". Yeah, look on the psychology Sdn boards. You'll see people indicating a minimum of 50hr weekend, with many reporting 60-80 hrs. So maybe slightly lower hours for residency, and for a shorter period of time. Oh yeah, we get paid about 40% of medicine resident salaries.
Rotations: As for rotations, we call them practica or externships, and yes we do them. Iirc the minimum is 20/hrs a week, for two years. If you read the board many put in more hours with writing reports from home in addition to the face to face hours. As you'd expect, the "20hrs minimum" is interpreted by some attendings as "how much scut work can I get out of this kid" while some adhere to the hours. There is traditionally an opportunity for another year long rotation in year three. Because match uses hours for stats, it is in ones best interest to do this in addition to applying to match, interviewing, and completing dissertation.
Match: yeah we use or at least used to use the exact same program as medicine for match, with the traveling for interviews, and having a computer algorithm telling us where we are going to live next year.
Post doc: now you have all your degrees, but you are not licensed! Awesome. Unless you want to go back to stripping, you either have to participate in a post doc match or find your own. People get paid less than medical residents again, around 35-45k/yr.
Post licensure: you're done! Start looking for jobs. Notice how few there are? Compare that to a physicians recruiter, which is funny because recruiters almost don't exist for psychologists. Do yourself a favor and Google physician positions for one location vs psychologist positions for the same location.
Money: duh.