I dunno about that - my 223 reloads are around 60c/shot from memory, you can get cheap factory 223 for a similar price if you buy bulk. Thats about the same as 17hmr in most shops, though you might get it down to 50c/shot buying bulk at some places.
Horses for courses, I just found 22wmr and 17hmr were a bit of an awkward middle ground for me where the ammo isn't cheap as chips like 22LR, but there isn't the power/range/versatility of a small centrefire either.
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