Budapest to Prague

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Please tell me if it is better to buy a ticket (Budapest to Prague) in advance online or a few days prior to departure in person.  We are looking at 9:25 am departure on June 22.  What would be the price?  If we don't buy reserved seats, how do we know which seats are reserved when we get on the train?

On route Budapest-Prague there are a limited number of discounted 19 EUR tickets available (offer called SparDay), thus obviously the earlier you purchase your ticket the better your chances to get one for 19 EUR. As result, advance online purchase might save you quite a lot, because few days prior there might be simply no tickets available for 19 EUR offer and you will have to purchase your ticket for the full fare. Hungarian railways online interface isn't the most convenient (+ you will need to print your ticket later from ticket machine), but still it's the only one they've got, thus no options here.
Concerning reserved seats: first of all, if you purchase 19 EUR SparDay ticket it's already includes seat reservation, thus nothing to worry about.
In general, since on either legs of this route seat reservation isn't compulsory, most of the people travel without reservation - just occupy any available seats. If somebody reserved the seat (or purchased ticket like SparDay with reservation included), then usually (but not always) there is certain sign/indicator, depending on type of carriage either on piece of paper or just small electronic panel above the seat with phrase "Reserved" and route.