We present a 1 GHz-clocked, maximally entangled and on-demand photon pair source based on droplet etched GaAs quantum dots using two-photon excitation. By employing these GaP microlensenhanced devices in conjunction with their substantial brightness, raw entanglement fidelities of up to $0.95 pm 0.01$ and post-selected photon indistinguishabilities of up to $0.93 pm 0.01$, the suitability for quantum repeater based long range quantum entanglement distribution schemes is shown. Comprehensive investigations of a complete set of polarization selective two-photon correlations as well as time resolved Hong-Ou-Mandel interferences facilitate innovative methods that determine quantities such as photon extraction and excitation efficiencies as well as pure dephasing directly - opposed to commonly employed indirect techniques.
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