To answer orig post:
ABFAS in-training matters a ton. It has always been highly predictive of actual results on BQ... and now it is BQ. I would take it seriously. You should have residency academics, read journals (JFAS, FAI, JBJS, etc), read books (major DPM and ortho ones in hospital library or your own), ACFAS edu stuff. In many big cities, it will be hard to get surgical privileges or full privileges if you fail ABFAS BQ. Some people have even lost jobs by failing it, if that's a requirement in the employ contract (state lic, hospital privi, etc always are... ABFAS sometimes is - or is de facto is since it's req by local hospitals). Personally, I put my in-training score reports in with my CV when applying to jobs as a resident to show them I had high scores and would pass BQ (many residents obviously do not pass, which can hurt for privileging to the disdain of employer later on, particularly when the new grad is hired to be one - or the main - surgical DPM for the office).
ABPM is a joke... everyone who can pass student boards passes ABPM. You can take the in-trainings if you want, but I would not use your own money or GME allowance for it... everyone passes their exams. You can pass soon after residency graduation since they don't require cases. I would do ABPM just to say you're 'board cert' early one (can't ABFAS cert until you have cases built up), and then you can drop it when you get ABFAS cert. It has always been the alternate board, and after the CAQ surgery joke and the pathetic BOD walkout/impeach circus that happened this year, it's a sad steaming pile.
State licenses vary. Some are very easy and others much tougher or more time consuming. Some will give full license early, others need more reqs. Research this carefully as some are only open for apps or review/granting once or a couple of times per year. In the grand scheme of things, state licenses are cheap, but losing good-paying or ideal location job opportunities can cost a ton as those are few and far between in podiatry. It does show job interviews or even visits and cold call places you're serious if you already hold the license or are in process... and that might be the edge you need as most good ones get a ton of apps. Sad but true. Don't step over dollars to save dimes.
The tougher "timeline" part is
insurances and hospitals. Those generally can't be applied to or completed until you have your residency completion certificate. They also need pod diploma, state lic, board qual/cert, malpractice, and other things you have or can produce fast... but residency certificate will hold you up. You can bill under the group that hires you and do office right away, but even once the app is complete, you wait on hospital credentialing at each place. This is why most residents going into PP generally can't do surgery for a few months or more coming out of training. Even if they work for a hospital or a VA that might fake "temporary privileges" for an employee new grad, it will normally be at least a little while. You can string your elective pts along typically, but you will have to give any infection or trauma cases to a colleague in the early months.
If youre a PP pod who does minimal surgery follow Hybrocures advice. No need to go crazy if local hospitals accept ABPM for priviliges.
But if you want to be busy surgically, hospital/ortho/MSG employed get ABFAS with RRA.
Not 100% mandatory but is going to make everything much easier.
Also, job search is fairly easy for these positions once you have foot/RRA
I would say PP associates still should definitely try for ABFAS. There is no reason not to. Almost all of them will leave those jobs, and ABFAS gives many many many more options.
If you are talking PP
owner (unlikely to be moving city or hospitals), then that's their choice, but they still could get squeezed if they end up without ABFAS (competition DPMs takes control of the hospital, ortho tries to limit them, residency starts in the system or covering it, etc). Practicing careers are decades long... things can always change. No reason to ever limit oneself.