Hell ya. Prince hit a home run Saturday on SNL. He nailed it, and he knew it too. What a great song - I'm really looking forward to his new CD.
Punk rock and post-punk pretty much killed the guitar solo.
Top 100 guitar solos of all-time as selected by readers of Guitar World:
http://guitar.about.com/library/bl100greatest.htm
Some of my favorite guitar players: Hendrix, Santana, Zappa, Page, Belew, Van Halen, May, Lifeson, Knopfler, Thurston Moore, David Hidalgo, Greenwood, various Steely Dan session guitarists, Prince, Howe, Townsend, Ronson, Reid, Mould, Big Country, Edge, Scholtz, Smiths, Buckingham, Ween, Metheny, POlice, Pretenders, Jack White.