As a recent purchaser of a 317 3 inch Airlite I'll give my opinion.
So far I have played with 8 different brands of 22 ammo to find out which one my revolver likes best. Out of the 8, only two were deemed unacceptable.
It is difficult to shoot this little bugger. Minor changes of how you hold the grip will change the point of impact enough to miss a rabbit at 15 yards.

All of my range testing so far has been at 15 yards. Best 8 shoot groups are running 2 - 2 1/4 inches. But my impression is this revolver is more accurate than that. I think if the sights were changed to a normal rear notched rear blade and a post front it would help. But even as it is, it is certaintly capable of killing small game at 15 yards easily and most likely up to 25 yards. So far I have run 200 rounds through this and havent cleaned it and it keeps on ticking. SA trigger pull is very sweet!

With a life time warranty the thought of "wearing it out" doesnt even enter my mind. It is the lightest .22 8 shot revolver made and it is the one that will go into my hunting pack. The only other pistol in the same league is the Beretta Bobcat which weighs in about 1 ounce lighter.