I haven't decided if I want to apply for a DVM-PhD program. I am very much in love with research...but I also have my heart set on one day opening up my own practice. I'm currently working a research job. I know these programs are competitive, so I'm not getting my heart set on it.
To answer your question, you'll have your DVM. These programs are such a 'full load' because you are getting your DVM and your PhD at the same time, both of which require tons of work and time commitment. But because you'll have your DVM, you will be able to work as a typical veterinarian. There are similar MD-PhD programs, and those who complete those programs can choose to go into research or to practice as a doctor.
If you decide not to do research, and you work as a veterinarian, when you look back on the work you put into your college career to get the PhD, are you going to kick yourself? Also, because there is a select number of students accepted into those programs, they are going to have a hard time accepting someone who isn't gung-ho about doing research. That's the purpose of the program.
Good luck in making your decision.