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I know daemon princes are unique compared to most other daemons. But how rare are they compared to greater daemons ? Are they more expendable or less expendable ? Are they more common than a greater daemon or rare in general ?

Also how does one identify a daemon prince as a daemon prince ? Is there something unique that indicates it was once mortal or that its not just a unique greater daemon or a unique regular daemon ?

I noticed in some books the characters without any indication can identify a daemon prince as one in seconds while others just assume its a normal warp born creature.

What are your thoughts ?

Daemons are immortal. There's no such thing as "too valuable to lose" when it comes to them. The same holds true of Daemon Princes. Of course, being daemonic beings, they are constrained by certain vagaries of the Warp, but mortal concerns like thirst, hunger, breathing, death... daemons don't worry about these things.

Daemon Princes are very rare, as few are the mortals who can both impress the Ruinous Powers and complete the ritual requirements to ascend to Princedom... and, also, there's a certain amount of luck involved that you make it to Prince and not Spawn. It's basically a coin-toss, because the Gods of Chaos are cruel and capricious.