This is my favorite Prince song, and I will tell you why:
1. The engaging story, told economically and vividly across only two quick verses and choruses. (Check it out!)
2. The catchiest prechorus in all pop music. (A railroading, double-time-like vocal rhythm in contrast to the verse and chorus around it).
3. The lovely turn of phrase "he was gone to stay" and the awesomely unnecessary time detail of "10:35" (on that lonely Friday night).
4. Prince the narrator casts himself as a player with a heart of chivalrous gold.
5. Prince the guitarist totally shreds despite not really being widely-appreciated for that skill.
It's not all paisley and roses: the descending (guitar? synth?) riff in the intro/choruses feels overbearingly cheesy and dated, but if you can get past that, the rest is brilliant. From 1987's masterpiece "Sign O' The Times".
"She asked me if we could be friends
And I said, Oh, Honey, Baby, that's a dead end."