No experience with either the M2 or re-barreling a gun at all. Seems like the folks on rimfirecentral.com love the round though and from what I hear the older, non-threaded 77/22s are pretty simple for the home gunsmith to re-barrel. If you don't get enough comments here then go there and look in the 17HM2 and 77/22 sub-forums. I think you will learn everything you need to know there.
Did one a few years ago.Bought a Green Mountain barrel for it.It is a fun gun to shoot.Boring also.Small bullet,very small groups.Out to 100-125 yds it's a tack driver.Wind does mess with it though.I shoot Eley in all my 17 M2's.Have three of them.Just don't like them in a blow back semi auto.I shoot left handed and the big bang from a OOB right in the face is no fun.Bolt or single shots a great.
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That's what I was talking about.Getting another Green Mountain barrel.Just got to find one.I'm going to call them on Monday and see if they have any left.Can't find any at the usual places.