The 221 was originally made by shortening up a 222. Not that it makes a lot of difference. The 221 also operates at higher pressures than the 222 making it a bit of an over achiever for its size. 40 grain loads in the 221 can surpass 3,400fps out of a 22" rifle and is darn near right up there with a 222. The 22tcm from the same length barrel is running about 2,700fps.
The 221 has a case length of 1.40" vs 1.022 for the 22tcm. Quite a difference there actually.
I have had 221's for over 25 years now and its one of my favorite rounds. I run it in rifles and xp100's. After all that , I have been giving the tcm some serious thought though. I think it would make a cool little round and be pretty cheap to load for. And 2,700fps is more than enough for most varmnints out to a couple hundred yards.