If I want to create a custom key combination to run a command, are there any keyboard shortcuts reserved for this? I always find it difficult to decide on which shortcut to
I would suggest using unbound. It was made for just this type of scenario.
Once you have it required in your emacs config, typing the following will list possible unbound keys for your customization:
M-x describe-unbound-keys
It asks for a complexity level (I generally just use 5) for the key combination depending on how convenient (less options) or esoteric (more options) a key binding you are interested it.