He's a genius-level performer. Just watch him (read "Prince: Snapshots of a Magical Night at the Inglewood Forum in LA"). And go to his current shows at the Forum--you'll regret not to.
However, offstage Prince is also a deeply idiosyncratic man with peculiar notions about a lot of things, including one of his favorite topics: the music industry.
Prince just went on the George Lopez show (he loves George Lopez, for some reason) and started expressing his deeply peculiar views about cover versions.
According to His Purpleness, only one version of a song should be allowed to exist, just like Law & Order (wait, aren't there many vers... never mind). And although he himself has done a number of covers (see below-- Joan Osborne's "One of Us," Sheryl Crow's "Every Day is a Winding Road," etc.), he gets really upset people don't realize that he wrote Sinead O'Connor's "Nothing Compares to U."
Here you have the interview excerpt:
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BONUS: Here are some covers by Prince that Prince apparently thinks should be killed by fire:
Prince's version of Joan Osborne's "One of Us" (aka, that '90s God song) is here.
Prince's (AWESOME) version of Sheryl Crow's "Every Day is a Winding Road" is here.