It seems to be the same GVP drive I use with my Amiga A500 Plus with Kickstart 2.04. I didn't get any documentation , the original HDD in the unit soon failed, then I had to fit it with a new drive which already had Workbench 2.x and some software installed. There's a topic I posted about it somewhere on here. I've never heard anything about powering it from the A500/A500 Plus though. It has its own PSU, which I switch on first, then allow it to spin up before turning on the A500 Plus. When I turn off the HDD PSU the Amiga A500 Plus screen goes blank, although it's still in the same colour scheme as before.
My GVP drive has some extra RAM, but not the maximum. If I got any more RAM, it probably wouldn't work with the RAM I've already got. I recently noticed an interface on the back of this unit, but I don't know what it's for. Would this allow me to fit a CD-ROM drive of the right type with the right cable? I don't know.
Of course, the classic CRT monitors are best for the Amiga, except for hires productivity display modes, as pointed out by Kooky Tech (Dan Wood).