In terms of out there skiing I don't think that it matters, what matters is that you are having fun. Similarly at work or in social situations when people are asking you in the course of telling you about their abilities I always avoid labels and tell them my favourite runs/mountains/lifts.
Where I do think it matters is when buying equipment or getting lessons. (I once walked out of a ski shop when I was intent on spending money because the boot fitter kept showing me low level boots and asking me about colour). I find the descriptive route better because terms like advanced and expert can be so subjective. The shop where I will buy new boots this year always asks about the fields and runs that you like skiing and asks probing questions based on that. They have a performance range that I really like because it is based on where you like skiing, how you feel tackling various situations and the speed you ski at.
The Performance Index (thank you racers edge)
This example of our performance indicator shows equipment for skiers at level 3-6. If your skiing is within those levels then you could choose this equipment. However its worth remembering that the more you ski the more you'll improve, so don't just purchase for your current skill level but for your future progression. Please note: Your physical makeup (weight. height aggressiveness), and frequency of ski alter your choice.
1. You've skied at least a week, you've learned to turn, stop and ride the lifts.
2. You have at least 3 weeks under your belt You can ski a slight wedge to basic parallel turns on green and blue runs. You still seek instruction, but aren't scared to venture off on your own. You are mastering the "hockey stop".
3. You are reaching the "intermediate plateau", you happily ski all green and some blue runs; but narrow pistes, especially icy ones, cause some difficulty. You have almost mastered speed control and stopping distances, Tough blue runs are skied with caution, with style and control at a premium.
4. You've broken through the "Plateau" and are now experiencing new feelings and sensations and have the confidence to make smooth linked turns on most blue runs . You have begun to appreciate the speed and excitement of skiing - it's a blast. Bumps are still a mystery.
5. You are not intimidated by blue runs and can link parallel turns comfortably. You are perfecting short radius turns on steeper terrain. On black runs you start your turns with a stem, and are conscious not to rotate your upper body You are happy making short turns down narrow 'Piste" tracks. Slopeside powder presents no fears. You may be considering a freeride ski.
6. You can ski black runs in good conditions. You have mastered short turns and easy bumps, fresh lightweight powder is tackled without a second thought. You get frustrated when you cant find rhythm or control on steeper terrain or icier bumps. The techniques for crud and deep snow are still a mystery, but you are not going to let them beat you. You are aware when your skis need tuning.
7. 80% of skiable terrain is well within your grasp but steep terrain, big bumps and difficult snow challenge your skills. You consider professional instruction may be necessary to make further advances. You may own an avalanche transceiver and you look forward to skiing 'off piste', with a guide. High speeds still induce fear.
8. You can handle most bumps, but difficult snow like crud and windpack sometimes gets the better you. You know how to make carved turns, long or short. You choose Freeride, Expert or Race skis and demand stability at speed. You'd like to polish your technique in the gates, bumps, ice, heavy powder or crud.
9. You are an "expert skier, comfortable skiing all conditions. You can ski a variety of lines through difficult bumps via the "fall-line"; over the tops and through the troughs. You know that without an intensive training program you will not ski at your best You could be a level 10 but your fitness or work commitments restrict you.
10. You are a sponsored skier a ski instructor or FIS racer.
sorry for the long post