I like 17HMR over 22 mag by a long shot.
When the 17 first came out I thought I really need to get one of those. Then I shot one and watched a starling go POOF into a ball of feathers (I hate starlings), and thought I REALLY NEED one of those. Then I went back to the 22mag and thought well this does the same thing with a big more mass behind the bullet. Sure it does not fly as fast or flat, but do I really "need" that. What does it give me?
I still think at 100 yards or less it is hard on steel, the 22 does not seem to be as rough on it. (oh and when I say 22 here it is the mag not LR). It also SEEMS to move the plate about the same. Speed and weight seem to be about a trade off.
Fast forward to today and I still have the same number of 22mag rifles I had when the 17 came out, I also have 0 17's. Everytime I shoot one I think, you know you need one of these....but I never follow through.
And I have a thing for "fast movers" and no 17. I can't figure out why, but I just never do it.
I think it is just the "new" thing, and the 22 is left to us "fudd" type people......again don't know.
I think if I was in the market for something like in 22mag, or 17, I would look long and hard at costs of ammo. I do think 17 will outlive 22, but I doubt I will outlive the 22, so again no dog in this fight.
Personally I think it comes down to price of ammo, I personally see them as about equal.
I do know I would never trade my vintage 22mag rifles for a new 17.