You don't go to failure. You pick a weight that you can get 10 sets of 10 reps with, with a fairly short, timed, rest period. You need to stay between 60 and 90 seconds; no longer. You can go as short as 45 seconds.
Regarding the weight, Poliquin wrote this up:
It's usually something used for a short period of time.
If we look at building muscle as three parts:
- improving CNS ability to recruit more muscle fibers (CNS efficiency)
- increasing capillary development in the muscles to drive more nutrients into them (cardiovascular efficiency)
- breaking down and rebuilding the muscle fibers themselves (muscular efficiency)
Then programs like GVT are focused mainly on improving cardiovascular efficiency (e.g., getting a good pump), and to a lesser extent, on building up your slow-twitch endurance muscle fibers. With many programs, especially the more strength-driven ones, the slow-twitch fibers don't get hit nearly as well as the fast-twitch fibers.
So yes, it will help you grow via a different means than what you're probably used to, but I wouldn't expect miracles from it.
As far as exercise selection, you should probably search this site and others for a better idea of Poliquin's suggestions. Also look at Gironda's 8x8 and 6x6 programs for exercise selection.