jim-y --
You don't mention if you reload or not. If not, the decision is a no-brainer if you plan to shoot a lot - get the .223. Ammo for the .223 tends to be much less expensive.
If you reload, ammo costs are pretty much the same, although you will use roughly 40% more powder. (Add a penny or two per loaded cartridge.)
As to range, let's compare my Ruger .22-250 to load data for a .223 using 40g Nosler BT's and 52g Hornady/Speer 52g BTHP's, with all load/rifle combinations zeroed for Maximum Point Blank Range for a 6" diameter target:
40g Nosler BT
Cartridge .223 .22-250
Velocity 3800fps 4052fps
Zero 285yds 301yds
MPBR (6" circle) 331yds 349yds
52g Hornady/Speer BTHP
Cartridge .223 .22-250
Velocity 3400fps 3578fps
Zero 260yds 272yds
MPBR (6" circle) 302yds 316yds
As you can see, the .22-250 gives you a slight edge (5% greater range, 11% greater area).
Chances are good that you will never really notice the difference. I tend to shoot the Speer and Hornady 52g bullets most of the time, even though the 40g Nosler BT's are just as devastating on coyotes. If comparing the .223 with the 40g BT's against the .22-250 and the 52g BTHP's, the .223 has more range.