Hi
1) Yes, you'll keep your previous insulins on your prescription as a back up. Although pump failures must be planned for, they aren't common. I've been pumping 13 years and - touch wood - have never had one.
2) Yes, you can stop the bolus while it's being delivered.
3) The pump cannula or needle goes into your subcutaneous fatty layer,,just like your pen needle so you still need to pre-bolus. It's
not like a cannula that you might get in hospital.
4) The cannula site is pretty tough unless you really do catch it on something. I doesn't need protecting as such. The pump can be clipped to,your clothes, worn in a pump case on a soft belt, etc, etc
There's no need to be too apprehensive. Everyone worries beforehand but actually the reality of a pump is far different from what you might imagine prior to getting one. It's simple to use, you don't feel it, and you forget you're wearing it.