Yes, the ammo costs more but if it ever gets even half as popular as 22 rimfire it will come down in price. The big thing about the .17's is they are very accurate so they are more for well placed shots instead of plinking and blasting. The Ciener unit can be made to work with the .17 Mach2 but requires a bit of work due to fact that a lot of weight (around 2oz.) needs to be added to or connected to the Ciener bolt. The best conversion unit for the .17 Mach2 is the M261 -- for some reason
no weight needs to be added to the bolt so it can switch back and forth from 22lr to .17 Mach2 and back. Of course a special barrel is needed for the Mach2 round. Oly Arms has an upper called a 22/17 partner that uses what looks like the M261 unit with barrel liners added to the M261 chamber adapter/barrel. The upper has a bored out barrel that these barrel liners can slide into so you can shoot the 22 cheap stuff or the more accurate .17 stuff. I've built both types of systems and the main reason I like the Ciener is the 30 round mags but the way I did the Ciener it can't convert back to 22lr -- but I can fix that too but I actually prefer to shoot just the .17 Mach2 with the Ciener. The only problem with you doing your own setup is the total cost of all the tools required. It would actually be cheaper to buy a factory made (Oly Arms) setup. By the way -- the Ciener mags and the M261 mags both feed the .17 Mach2 ammo even better than 22lr ammo!
This is a picture of a .17 caliber liner that is part-way into a drilled out GI barrel and a drilled out M261 chamberadapter/barrel on the liner. They are just slid into each other to kinda show where to start.
The same can be done with the Ciener. There was a fellow that just posted a spring loaded ball bearing lockup setup he used actually for eliminating bounce when shooting the Ciener in full auto -- This might also be a way to delay the bolt enough, when the round is fired, to eliminate the need for extra weight in the Ciener bolt!