Yeah, and I bet it will go through the best body-armor like crap through a goose. None of that "cop-killer" stuff for you! ;^)
Absolutely. A smaller caliber, spitzer bullet and 2500 fps. A local varminter shot a magpie with the .17HMR from a Ruger 77/17. The exploding bone fragments killed the magpie sitting next to the intended target. The round is a .22 magnum rimfire case that is necked down to .17. Ruger will be making .17LR barrels for the MkII .22LR pistols in a few months. The .17LR will feed just fine from the standard MkII magazine. My wife really wants one of these new barrels to put on one of her many MkII pistols. I've seen .17LR ammo (sampled from the SHOT show). It appears to be .22LR necked down to .17...similar to the .17HMR, but less powder. Very nice.
One small hitch. You need a smaller cleaning rod, brush and patches. The standard rod is too big. Ditto for patches.