I found myself in a similar situation about a year ago - Pentax HD DA 16-85 WR vs. Sigma 17-50 f/2.8 HSM vs. Tamron 17-50 f/2.8 vs. Sigma 17-70 f/2.8-4 vs. Pentax DA* 16-50 f/2.8. Sigma 17-70 (image quality not good enough), Pentax DA* 16-50 (way too expensive for what it offers) and Tamron 17-50 (same as Sigma, but noisy AF) went out immediately, and I was left with the Sigma 17-50 and Pentax 16-85.
I do a lot of outdoor stuff and really wanted the Pentax for the weather sealing and versatile range, but the price put me off. The Sigma offers very good image quality and is faster than the Pentax, at €330 vs. €600 for the Pentax.
My personal experience with the Sigma is hesitantly positive. Image quality is very good, except for strong CA in harsh contrast situations at wide-angle, plus the wide-angle bokeh is atrocious, with double edges (example
here).
What annoys me is the focusing. It is swift and manages to grab on fine, but I started to think that there's a problem rather early when I realised that the lens misfocuses (never bothered to check whether front or back) when shooting wide-angle, distance (more than a metre or so away) in less than perfect light. Obviously not to be solved via focus adjustments. I decided that these situations are rare enough not to warrant sending the lens back. Since then
most of my images are sharp and in focus, but I also find some that are clearly not focused as they should be. I cannot nail it down to a certain type of situation, but it's definitely worse in bad light.
So ... it is a good lens, but I am not as happy with it as I could be.