When I uploaded the CD into iTunes, it correctly said that disc one and three were by The Artist Formely Known as Prince, but than the second disc claims it's by Prince. What's up with that?

I'm not sure about the actual process, but CD data is entered by hand (and not by the musician's people). I think there is more than one database that different programs can access to label the CD when it plays on your computer. Windows Media Player constantly gets things wrong when it plays my Prince CDs (all of the second disc of SOTT, for example, has the song titles mislabeled). I'm not sure what iTunes uses, but they get the songs titles correct, iirc.

You can correct it and send it through Advance - Send Track Info so future users will get it right

brodiebanks said:

That's an extreme & scandalous prejudice from iTunes 2 u! I think u should call ur lawyer & sue them immediatly 4 1 or 2 million bucks