> What is the significance of the SDD matrix?
There is a theorem called Gerschgorin's circle theorem that depends on SDD matrices.
> How does it relate to say the Jacobi Method or Gauss Seidel Method? Is there any significant
The Jacobi method and Gauss Seidel method converge if the matrix is SDD
> interesting results relating to the eigenvalues of a SDD matrix?
See Gershgorin's circle theorem. Every eigenvalue of $A$ lies within at least one of the discs.
> Importance of SDD in a system Ax=b, if any?
Both of the methods you mentioned solve the $Ax=b$ problem.