It seems that several Armies have a Terminator Formation also include a Daemon Prince.

But I am a bit confused by the statement below

Replace the unit in the formation that includes the Chaos Lord or Warlord character with a Daemon Prince unit.

This would mean I am paying 115 points (in total) for a Daemon Prince who is now not much better than a Terminator Unit at 65 points.

PRINCE
15cm/3+/3+/3+
base : MW, EA+2
(15cm) : MW, EA+1

TERMINATOR
15cm/4+/3+/3+
30cm : 2x AP4+/AT6+
base : MW, EA+1

Am I reading this right ?

Check out that 3+ reinforced armour save, that plus the Fearless Special Rule makes Daemon Princes pretty much immortal.

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Currently doing a plastic scenery kickstarter

A Daemon Prince is well worth it's cost! The extra MW attacks are nice, including a firefight one (which you'll come to appreciate if you attack skimming enemies which can just rise up safe away from close combat attacks). Fearless is very important too - loose a combat with the Terminators and the extra assault damage will quickly kill the few of them, but the Daemon Prince being fearless completely ignores that and needs to be killed dead, which with a 3+ Reinforced is not always easy.

Daemon Prince is a very hard nut to crack. They can soak many many hits, break him and hope he doesn´t rally  

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Epic Armageddon in Spanish: http://www.box.net/shared/aii6v2xqu3

And you also get to utilize the Daemon Prince's teleport ability when he/she is with the Chaos Terminators... well worth it!

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"EPIC: Total War" Lead Developer

Now living in Boston... any EPIC players want to meet up?

BTW, how big is a Daemon Prince in Epic?. It is rated Infantry but if it is as big as the daemon prince of WHFB it should be a vehicle. (And how can Tyranid warriors be LV and this beast just Infantry??)

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Epic Armageddon in Spanish: http://www.box.net/shared/aii6v2xqu3

*ducks head and waits for the artillery to hit*

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Frogbear is responsible for...
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*shrug* how long is a piece of string? They have varied in size over the years but the current W40k one is maybe 2 x the size of a basic trooper or slightly larger (nowhere near as large as the old epic Greater Deamons or Primarches).

The important thing to be aware of is that an epic Daemon Prince is meant to consist not just of a lone Daemon Prince but one Daemon Prince and 4 other chaos marines / terminators on a base, hence it being appropriate to have it as infantry.

Tyranid Warriors come 2-3 to a base, so few targets which AT weapons can really hurt. They could feasibly be either infantry or light vehicles but the Army Champion made the call to make them light vehicles in the list, which some people found contentious, but lets not go over that long debate again.

While I haven't made one yet, I am planning to scratchbuild my DP's out of some of the old Chaos Horde figures eg. chaos champion, minotaurs, disc riders or whatever. I will put a single figure on a square base because I think of daemon princes as a unit in their own right. In 40k they can't join units so I think this is fine. For now I use a Magnus the Red model.

While I haven't made one yet, I am planning to scratchbuild my DP's out of some of the old Chaos Horde figures eg. chaos champion, minotaurs, disc riders or whatever. I will put a single figure on a square base because I think of daemon princes as a unit in their own right. In 40k they can't join units so I think this is fine. For now I use a Magnus the Red model.

Here's my scratchbuilt Daemon Prince:

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Currently doing a plastic scenery kickstarter

I still have a PM saved about this mini  

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Frogbear is responsible for...
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...and I use my Angron model. Some models are just too hard not to use  

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Frogbear is responsible for...
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And one day I will maybe even find the mould I made for him.

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Currently doing a plastic scenery kickstarter

Am I correct in assuming that the Daemon Prince is a unit in it's own right as it has a full line of stats.

Someone commented that the unit is on a base with 4 other figures, I assume this is just for modeling purposes.