I've never been to a DPM, but I have a friend with a painful problem with a bone in her foot and she swears by her podiatrist, so I'm sure they're very good at what they do.
Unfortunately, podiatry has a bleak future. Schools are closing. Applications are way down. Jobs are extremely hard to come by. Lifestyle and compensation isn't great compared to many physicians, PAs, CRNAs, etc. The managed care system really destroyed podiatry. It's very, very difficult for podiatrists to join HMOs and get all those HMO patients.
So there are really two ways of looking at this.
1. Stay away from podiatry school because, if current trends continue, you'll be really sorry.
2. Go to podiatry school. I believe that the managed care system is going to change in the not-so-distant future because the Baby Boomers are going to demand a much better insurance system as the get older. If this happens and podiatry is salvaged, there will be a huge shortage of podiatrists due to the low number of new ones being produced. In this case, you'll really cash in. But, IMHO, it's a huge risk to take.