If I create a reserve time, does it block out that time in the rooms associated with that staff member?

Multiple staff members can be assigned to one room, so a room schedule has to be independent of a staff member's schedule. When you set up a reserved time, it will only reserve time on the schedule you are working with as a default.

While setting up a reserve time, you also will have the ability to reserve the time off all staff member schedules OR all room schedules, but not both.