[...] Still debating at this time if this will be a PXE booted NAS under the internal network or if we are better off with putting it on the external network. [...]
LMCE won't see it on the external network. If you PXE boot it will be an MD. You can run stand alone NAS devices and PCs on the LMCE internal network. That way LMCE can find the shares and make them available to the entire system.
When I set up the new NAS I will need some guidance in settings for a device we want to be able to power down when not in use. I noticed that under web-admin>automation>device status the core keeps tabs on what's ON and OFF as well as it's location. If this NAS runs it's own OS on the external network would LinuxMCE using its occasional NetworkSharesRadar pick up it's absence and adjust storage accordingly and automatically to other active drives?
The system does a terrible job of maintaining state for power on/off for devices like MDs. The StorageRadar scripts will detect the presence/absence of the NAS and act accordingly. There is no built in mechanism to auto-start (wake-on-lan) a NAS or other PC withing LMCE. A low power always-on NAS is a good way to go. Or put your storage drives in your Core. One of the largest flaws in the system is it always assumes that everything is available, always. The radars help with this but only so far.