advantages of saving a file as .html as opposed to .php?

If you can use .php instead of .html, there's no reason not to. If you use .php from the start, even if you don't use PHP, you will save yourself a great deal of hassle if you start using PHP on your website in future, and will avoid creating links that will later be broken (or going to the trouble of redirecting .html to .php which will still kill your search engine rank). Performance difference is negligible and certainly not noticeable.
 
Probably makes no difference, perhaps your editor will use different color coding depending upon the extension, but other than that it is really just for you to keep track. as for other file types the extension is used by applications to determine the file type, but even that is not written in stone. for example you could open a file with media player that has an extension of .gbg, media player will not recognise it, but will ask you if you want media player to try playing it and if it is a compatible format it will succeed.
 
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