>>IF<< the operating conditions are clean, >>AND<< bearing speed and lube viscosity is high enough to provide a decent "kappa" (over 2.0) >>THEN<< ElastoHydroDynamic lubrication will be achieved, and bearing surfaces will be separated by oil, and the dynamic load/life calculations are based on fatigue, not wear. If the equiv. loading keeps the stress below the ball/race fatigue limit, then bearing (not lube) life is infinite. SKF puts this fatigue limit right in the catalog. For many types of bearings FAG suggests if the equivalent load is less than 1/8 the basic dynamic load the life can be infinite. However, If the equivalent load induces stresses greater than the endurance limit, then a number of revolutions or cycles can be calculated representing theoretical life to reach some modest level of surface damage. Higher rpm simply completes the number of cycles sooner.
If the lube is dirty or thin, or the rpm are low, then the balls and races will touch and scuff, and life will be more like wear, and the L10 calculation would probably apply.
As others said, the static load is limited by deformation.
Precision bearings (machine tool spindles) are usually limited to about 1/3 the "static load," as even slightly dented races will create crummy finishes (and probably even initiate fatigue failures at much lower stress levels when the spindle revs up later).
A low speed bearing would really benefit from keeping loads well below the static capacity, and using lube with oil thick enough for a good kappa at a few rpm. Oil that thick oil will probably reduce the upper speed limit.