I've owned several BSA scopes over the years, the cheap one wasn't worth keeping so I didn't. The contender is ok and is still kicking around here somewhere. It holds point of impact ok, adjusts ok, and in reality the glass is ok. The sweet 17s that I've looked at are of the contender level of tech & quality control and would, I assume, be just fine for what you want to put it on. I put a Burris 3x9x40 with BPlex on my 17HMR and have been very happy with that.
I have the same rifle and bought that scope for it. I haven't sighted it in yet. I got the scope from MidwayUSA when it was on sale, $85.00 I think. Let's face it, the Malin is no Kimber and the BSA isn't a Leupold. One thing that it says in the instructions is that the bullet drop compensator is set-up for the 17gr. bullet. The scope seems nice and clear and it has the adjustable objective. It looks nice on the rifle, lol. I figure that scope should be just fine for that rifle.