Question 1

What is "high static pressure"? Does that make this a better fan than one that doesn't say that?

Accepted Answer

"Static Pressure Fans" or SP for short is a type of fan with thicker blades then there counterpart that is more suited to work best in a situation where it is  pushing or pulling air through a thick grated area such as a radiator/heatsink or a close proximity area where airflow has a harder time flowing such as a case designed to be silent. 
These are different from there AF "Air Flow" counterparts which have thinner blades and are used for normal case operations.
Think of it as the torque vs horsepower debate

Question 2

Could you please tell me what is the failure rate of this fan, according to newegg?

Accepted Answer

no, I can only tell you I have been running mine on three corsair H100i's for more than two years without flaw, between 50 and 120 degrees Fahrenheit.
depending on what I'm doing, Covering two  AMD 280x"s and my cpu, which is a  9590fx clocked at 5.5 gig.

Question 3

Can you control the fan speed of these on the H80i?

Accepted Answer

Yes you can.  I have them on my h80i and it corsair link will turn them up and down.  But do remember that these are 3 pin not 4 pin pwm(if that matters to you) like the stock fans and they do not spin as high as the stock fans.

Question 4

What type of bearing do these have?
How different are they compared to the non-led sp120s (with colored rings)?

Accepted Answer

A sleeve bearing design.

Brand	Corsair
Model	CO-9050029-WW

Type	Case Fan
Compatibility	Case
Fan Size	120mm x 25mm
RPM	1650 RPM
Air Flow	57.24 CFM
Noise Level	26.4 dBA
Color	Red

Corsair CO-9050029-WW Air Series SP120 120mm Red LED High Static Pressure Case Fan - Twin Pack

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Item#: N82E16835181070