I would have to give the .22-250 the edge on effective range. But in every other catagory, including velocity, I like the .204 for yotes/varmints. Not saying its the end-all-be-all varmint caliber, just a personal preference.
But as far as the OP's original caliber of discussion, I think the .17 wsm will make a decent yote gun in areas where centerfires aren't always allowed. But won't take the place of the .204 and .22 caliber centerfires, especially downrange. I'd say it will really shine on varmints at 300 yards and under.
"Most people can't hit a flock of circus tents at those ranges." - P.O. Ackley