I have not heard of anyone using one, but I do know a fellow using a 19 Calhoon, which is a 19 caliber in a 223 and he loves it. You can imagine his challenges finding 19 cal bullets!
It should be highly accurate and lots of fun. Very low recoil, VERY fast.
as to barre life, if you go by the overbore index formula, it will have an OBI of 1270, which means it's MOST ACCURATE barrel life will likely be 1500 or less. It will still be minute of gopher for longer than that.
Load data is on the Hodgdon data reloading center website:
Cartridge: 17-223
Load Type: Rifle
Starting Loads
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Maximum Loads
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Bullet Weight (Gr.) Manufacturer Powder Bullet Diam. C.O.L. Grs. Vel. (ft/s) Pressure Grs. Vel. (ft/s) Pressure
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25 GR. HDY HP Hodgdon H414 .172" 2.130" 24.5 3766 26.5 3989
25 GR. HDY HP Hodgdon H380 .172" 2.130" 24.0 3779 26.0 3946
25 GR. HDY HP Hodgdon BL-C(2) .172" 2.130" 21.5 3635 23.5 3940
25 GR. HDY HP Hodgdon H335 .172" 2.130" 21.0 3618 23.0 3929
25 GR. HDY HP Hodgdon H4895 .172" 2.130" 21.0 3681 23.0 3960
FYI, I have two 17 cal Krieger barrels in stock that I got stiffed on and will let go below cost to get rid of.