Maybe 8-10 months ago there was an article in
Precision Shooting about varmint (PD) hunting. They obviously took very expensive custom rifles. By the end of the 3-day trip, their favorite was the .204.
They could see their hits, actually slightly less wind drift than the 22-250, and flatter than the .223. Heated less than the 250 and less noise.
While some of the more macho here have expressed their extreme pleasure seeing pieces and parts of varmints fly around, no one has bothered to ask if you're keeping the pelts to sell. Good luck if you use a .22-250 and 55's. It'd be a shame to blow a $30 pelt apart. I've not had the opportunity to whack a 'yote with the .204, but from what I've read at Varmint's Den, the smaller bullets tend to blow up before exit. I'm anxious to see for myself.
I have a CZ 527 Varminter in .204, an incredibly accurate Bushie AR, and a 700 VS in .22-250 so I have no particular favorite. I've hand loaded some for all of them. Brass for the .204 was easy to find at Gander or Cabelas.
If I were calling and didn't want to keep the pelts, it would be the AR. Keeping the pelts, it would be the .204 with 32's. For longer range dogging, I'm taking the 22-250 along with the others.
FWIW...my local dealer has a camo Remington AR in .204. That would be a great gun for calling.
Another good choice is a .17 Remington (My neighbour has the ".17 Fireball" & loves it. I have shot it & it is very accurate).
I think this is where the .204 fits in. It has the speed and small bullet of the .17 but perhaps less prone to wind drift.