Most of your rights come after you're employed. If not selected for this job don't think you'll ever know, or more importantly be able to prove, that your participation in the reserves was the discriminating factor.
More importantly, keep in mind that being a reservist, or veteran, cuts both ways. You may find several doors opened while others closed based on your status. If you believe that you may not be hired because of your status why bring it up in the first place?
I've been in both positions of applying for new employment and hiring. You must know your audience. If someone came to me and said 'hire me because I'm a vet/retiree/reservist' I'd probably promptly strike them from the list. A better strategy is to frame your capabilities against the position to which you're applying. If your military experiences aid in the position to which you're applying discuss, if ancillary or detrimental don't.
You must present yourself based off knowledge, skills and ability. Arbitrarily stating that your status as a vet/retiree/reservist makes you more capable than the other applicants isn't the way to go.
I just interviewed a fella for a position last week. When my coworker asked the question "what makes you the best candidate?" his response was "not only am I a retiree but I've got a masters degree". I exchanged glances with my coworker to confirm that we both agreed he didn't stand a chance. Dang, everyone's got experiences. The trick is to tie that experience to the job at hand. If you cannot do that you probably aren't right for the job any ways. Now, if you're applying for an entry level job the rules are different because you don't have relevant experience.