I spoke with the guy at the High Standard booth at SHOT about this. He told me the .17HMR barrels would be available, but mentioned specifically that they would need to be fitted to the pistols (i.e. not drop in). He also told me that the gas extraction system originally used in the Automag II would not be included in the High Standard-produced versions in either caliber, BTW.
It wasn't discussed, but I am guessing lighter recoil springs may be needed to work properly with the .17HMR. The only .22WMR round that will function without a failure in my pistol is the Winchester Super-X 50gr JHP. The FMJ version of that round has a small flat area on the tip which hangs up on the gap in the feed ramp where the rim sits when a cartridge is in the chamber. Some careful filing here would likely fix the issue, but the HPs are the same price and just as common. Other brands don't seem to generate enough recoil to fully extract/eject the spent cases. I expect this is what would happen with the .17HMR and stock recoil springs. Don't ever try Armscor .22WMR ammo in your Automag II - it has thin brass that gets stuck in the gas holes in the chamber like the locking bolts on a safe. It took a cleaning rod and hammer to get it out!
AMT got a checkered reputation on their 1911 clones because some of the early ones had galling problems with the stainless steel. They solved the problems, but never shook the bad rep. The fact that they built guns in the same area as the manufacturers like Raven, Jennings, Davis, and Lorcin did little to enhance their reputation for quality, in spite of the fact that they had innovative designs and used high quality materials. I read the threads on Kimber problems and it makes me shake my head - Kimbers are well-loved but AMTs are not. I see more similarities than differences.