Yes, there's definitely an advantage. However, out of a shorter handgun barrel the advantage .22 magnum has over .22 long rifle (.22 long is a different round; I'm guessing you meant .22 long rifle) is relatively small. And .22 LR is a much more plentiful and cheaper cartridge (under normal circumstances) so many people prefer .22 LR to .22 Mag. You can shoot .22 LR out of a .22 Mag revolver, but it's not ideal. However, you mentioned you were looking for a single-action revolver, in which case something like the Ruger Single-Six that has two cylinders - one for .22 Mag and one for .22 LR - might be perfect for you.
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0331: "Accuracy by volume."
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