Posted by candy on Saturday, January 31, 2009 at 5:59pm.
http://books.google.com/books?id=STxHXRR4VKIC&pg=PA312&lpg=PA312&dq=iron+oxidation+states+stability+energy&source=web&ots=EE_tKI93-T&sig=cEGksSOaiTNI9CogX7QRzRvHE0o&hl=en&ei=7t6ESaeiIImIsAPpm-29DQ&sa=X&oi=book_result&resnum=4&ct=result#PPA333,M1
see page 333 to answer the third question. The point on that page is that FeII ion is stable, even in water, and the FeIII is relatively stable. IT is a matter of free energy.
On the first question above, Yes, it is moderately fast.
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