22 mag would be more versatile. If you were going to shoot more than lil critters and paper, I'd say go 22 mag. You could take down larger "game" with 22mag. I used one to shoot ferrel dog for a couple seasons, quite effectively I might add. The 22mag and 17hmr are two pretty different creatures when it comes down to capabilities. Both are pretty freak'n accurate. Both cost about the same. What are you going to do with the rifle? (both would not be recommended for anything you'd want to eat. I've shot grouse with 22mag; the wound channel was horrific. The 17hmr's light weight, faster FPS and rapid expansion bullet is even worse. POP!)