Thought about Pharm - You are correct that PharmDs have it great. My sister is a pharmacist and we have talked about this in great detail. It is true that pharmacy school is very expensive, but it will likely be less than law school when it is all said and done. Depending on where you are at you are looking at 6 yrs for pharmacy school and 7 years for law school. If someone alreay has a teaching degree they could take the pre-reqs at night and still make case, or even take the classes throughout the summer and during those years hoard the cash for pharmacy school.
The reality is that pharmacy school is a great way to hedge your risks. You may not make as much as Wall Street lawyers, but your chances of making 100K straight out of pharmacy school are pretty much 100%. Making it as a Wall Street lawyer is HIGHLY improbably outside having graduated from the "T-14" (top fourteen law schools).
You are right that eventually pharmacy could become saturated. HOWEVER, it is very similar to other health professionals (ie doctors, nurses, etc.) in that the governing bodies regulating those professions do a good job at keep the profession from becoming saturated through degree mill schools. This is completely different from the ABA that accredits law schools like there is no tomorrow (which is exactly why there are TOO MANY LAWYERS!). You can be an absolute idiot and get into some podunk law school somewhere, but to get into med school, pharmacy school, dentistry school, you actually have a hard road to get there and not just anyone that graduates with a liberal arts degree and no job can take a test and get in somewhere. As before, ask me for any clarification. I truly want to help those that are thinking about law school to face reality before it's too late.