I am setting a static IP address for my desktop PC and reserving that address on the router so that it only assigns that address to my PC.
It's a wrong (but possible) practice, especially when MAC stored in DHCP reservation and real MAC address of that IP differs (can occur in future, by damaged NIC replacing, for example). Additionally any change at DHCP which is transferred to clients (DNS address or static route change, for example) will not be transferred to Your station, You must check for that changes and apply them on Your station "by hands".
The better solution is to use IP address out of DHCP scope range. But the problem with manual change tracking is retained.
The best solution is in use dynamic addressing with static reservation plus the same settings in alternative configuration applied when DHCP is not available. The problem with manual change tracking is retained too (for alternative config only), but not so significant as in previous case.
Is there any advantage or disadvantage to choosing certain IP addresses?
No, if You use IP addresses from "private" subnets (for IPv4 see RFC1918). Any IPv4 address is some 4-byte long value, not more.