so far I have come across two - one from the I'll Do Anything Sessions and one from C-Note. why do i think there's another one?

Three, 1985,1992 and 1994....that we know of.
C-NOTE...that is a live version played at a concert, you don't include that.
[Edited 4/6/07 8:23am]

liberation said:

hmm...i see. i know i dont have the 1985 version. hmm...

Milty said:

In a way, no-one does, but in a way, everyone does. It seems from what Michael B and others have said, the 1994 version IS the 1985 version - the reason it seems like the NPG playing is because the video shows them playing, but it's actually the Revolution (or maybe just Prince) playing the music. Supposedly there weren't actually any updates to the track.

booyah said:

1985? I didn't know this song dated back this far. I only have the C-Note version.

booyah said:

I was under the impression that the 1994 version WAS the 1985 master with newly recorded guitar by Prince.

No, the guitar solo is still the original 1985 one (played on Prince's Tele).
In most respects the 1994 version IS the 1985 version. The difference
between the two is little more than the difference between a rough mix and
a final mix. Prince just dug the mastertape out of the vault in 1994 and
produced a new mix of the track (I don't think he even did any overdubs on it).

BorisFishpaw said:

Thanks for the info. I'd heard more than one story about that one, everything from not being touched at all to practically everything but the vocals being changed and wasn't sure which one was correct.