Can the battery tell you how many hours it has flown or flights it has been used on or how much life is left?
You cannot tell how many hours the battery has been flown, but it does record the number of battery cycles. The cycle count increments each time the battery is charged 100% of the way. Since that requires two batteries charges, you can assume the battery has been used twice whatever the current cycle count shows. That's assuming you always fly the battery after charging it. If you wait 10 days
(the default setting in DJI GO), the batteries will start to auto discharge down to the storage level
(and you'll need to charge them again before flying).
If using some kind of tool that is able to read the flight logs, you could record the flight time for each flight taken on each battery. Or manually track that by hand. It's probably not worth the hassle unless you're flying commercially and required to do so.
How much usage should I get out of a battery before it has to be replaced?
It depends on how you care for them. You can prolong the life of the batteries by not storing them at a 100% charge for long periods of time
(10+ days), not storing them for extended periods of time at less than a 25% charge level, and not storing/using them in hot/cold weather conditions.
what items wear out and how long do they last?
Assuming you don't crash, the batteries will probably be the only thing that wears out. Even though, it's a good idea to check all of the major components prior to each flight. Inspect the props, prop locks
(on top of the motors), and the shell for cracks/damage -- and make sure the battery is properly locked into place.