since the early days until now prince's guitar sound have changed.
he seems to take full circle with pedals and effects he used.

for example his early sound was very raw with only simple distortion,over the years he started using wah wah ,delay ,flanger ...

during rave era his sound started to be more plastic,
very synth like (how did he achive that) but along with hit n run 2000/2001 tour his guitar sound started to be more natural.

so experts please name guitar pedals and processors prince used and is using now,and also do you think prince regulary updated his guitar effects or not?

I have a guitar player magazine article that describes all pedals he uses, I remember tons of boss pedals, a zoom 9030 or 9050 processor, and the emg active pick ups.

Here's what I have found from doing some research on this topic. Hope it proves useful to you.

Guitars:70's Hohner, Custom Schecter(Habibe), "Cloud Guitar", by schecter, George Benson Ibanez, Fat strat Fender stratocaster( with bridge humbucker and floyd rose locking trem)
Amps: Mesa Boogie Heartbreaker
Speaker Cabinets: Mesa boogie recto 2X12, loaded with celestation Vintage 30's
Rack Gear: Digital Music MX-8, Roland Gp-16, Zoom 9030, Rane Me30, Behringer Denoiser, Furman PL-8, Furman Pl-Pro, Furman AR-117
Stompboxes: Boss Ds-2 turbo Overdrive, Boss VB-2 Vibrato, boss D-3 Digital Delay, Boss Fl-2 Flanger, Boss OC-2 Octaver, Boss-BD-2 Blues Driver, Dunlap Crybaby Wah, Dunlop Rotovibe