Sunrise Izumo Seat Reservation

Hello!

Based on ROUTE 1 in the following scenario, does the "reserved seat" (costing 1240yen) correspond to an actual seat one can sit in or is this the "nobinobi" I keep reading about? Also, is this reserved seat covered by the JRPass?

It so happens to be the last train out of Matsue in the direction of the Sanyo line and I'd like the extra half hour it may give me in relation to the last Yakumo.

Thank you!

http://www.hyperdia.com/en/cgi/en/search.html?dep_node=MATSUE&arv_node=SHIN-KOBE&via_node01=&via_node02=&via_node03=&year=2015&month=02&day=17&hour=23&minute=30&search_type=1&search_way=&transtime=undefined&sort=0&max_route=5&airplane=off&ship=off&sprnozomi=off&lmlimit=null&search_target=route&facility=reserved&sum_target=7