The specifications say you can get up to a 5 mile range. There is a YouTube video out there proving that it can be done in a wide open space. However, I tried to fly it to my sister's house and it got just under a mile away, I lost reception and it returned home by itself. Now, this was among suburban homes, trees and etc. So, I would say it is pretty darn good. I may have been able to get it to go further if I flew it higher but I have an international airport nearby so I try not to push the limits in height. Besides, at almost a mile away forget about trying to see it. You are only flying by the video/map at this point.
As for flight time the specifications say max 31 minutes. However, I average about 25 minutes. That seems long when you are just playing around but if you wanted to do some serious photography I could see that time going by real quick. But, compared to your options for this kind of quality and battery life you just are not going to find it.