I love the song Prince gave to Sheena Easton 101.

I've noticed there is a Uptown Version.

Is this a remix or a proper extended version with new musical elements?

I'm guessing the tag of uptown version means Prince was involved as I noticed there is also a remix version?

Also Telepathy Instrumental is included on the 12 inch, again is this different are just a straight up instrumental version?

I'm thinking of getting both 12 inches so any info and opinions would be greatly appreciated.

You should definitely get the 101 Uptown version. It's remixed by Prince and does include new musical elements;
It starts with Prince playing a part of the great guitarsolo he used to open shows on the Sign O' The Times tour with.
I love this version of the song