This particular one doesn't come with the flash drive, but it says it is compatible with one.
So is this all I need? Was that action replay max the right one, or do I need the one that comes with it's own USB drive? Is there anything else I need?
if you can, try to find THIS hdd. i personally use this one in my v7, and it's been working great; i've even left it on over 24 hours, and it's still running like new. no heating problems. double the size, double the cache, but double the price of the seagate you're looking at; looking at the $100 range. you should be able to find them at a local staples, or fry's electronics.
it's a very solid drive for the ps2, and very quiet; you'll hear the ps2 fan more, since it's spinning faster to cool the hdd.
the hdd size is important, because if you have a lot of games, you want to have room for more. i have 30 games on my hdd, and it takes up 100gigs. that's plenty more of room, which i doubt will get filled up, but each game is a different size, so you never know.
also, some games don't like being on the hdd at all; you'll just get a black screen. you can check your games HERE to see if they will work off the hdd.