Depends on the application really. For getting lowest trigger time/cost and just punching holes in paper 22lr cant be beat. For shooting varmint and such 22wmr for 50-100yrds and 17hmr past that. Heres some rough numbers from good write up i found for 17hmr vs 22wmr.
Trajectory
.17 HMR, 17 grain V-Max = +0.1" at 50 yards, 0 at 100 yards, -2.6" at 150 yards, -8.5" at 200 yards.
.17 HMR, 20 grain XTP = +0.6" at 50 yards, 0 at 100 yards, -4.1" at 150 yards, -13.1" at 200 yards.
.22 WMR, 30 grain TNT = +0.8" at 50 yards, 0 at 100 yards, -5.8" at 150 yards.
.22 WMR, 40 grain JHP = +0.9" at 50 yards, 0 at 100 yards, -5.7" at 150 yards.
Energy
.17 HMR, 17 grain V-Max = ME 245 ft. lbs., 185 ft. lbs. at 50 yards, 136 ft. lbs. at 100 yards, 99 ft. lbs. at 150 yards, 72 ft. lbs. at 200 yards.
.17 HMR, 20 grain XTP = ME 250 ft. lbs., 187 ft. lbs. at 50 yards, 137 ft. lbs. at 100 yards, 99 ft. lbs. at 150 yards, 72 ft. lbs. at 200 yards.
.22 WMR, 30 grain TNT = ME 325 ft. lbs., 200 ft. lbs. at 50 yards, 120 ft. lbs. at 100 yards, 80 ft. lbs. at 150 yards.
.22 WMR, 40 grain JHP = ME 324 ft. lbs., 230 ft. lbs. at 50 yards, 162 ft. lbs. at 100 yards.
Killing power loosely based on OGW numbers (weight of game for yardage)
.17 HMR, 17 grain = 7 pounds at muzzle, 5 pounds at 50 yards, 3 pounds at 100 yards, 2 pounds at 150 yards, 1 pound at 200 yards.
.22 WMR, 40 grain = 17 pounds at muzzle, 9 lbs. at 50 yards, 5 pounds at 100 yards, 3 pounds at 150 yards, 2 pounds at 200 yards.
"After researching and writing this article, I have reached a conclusion about these two cartridges. I would favor the .22 WMR for shooting small game and varmints within 100 yards, and the .17 HMR if shots often run much beyond that distance."
http://www.chuckhawks.com/compared_17HMR_22WMR.htm