So the big, big important question you have to ask first and foremost is "what are my models actually HOLDING?"
See in your codex how each unit can take several varied upgrades? Particularly a dude like the daemon prince is going to have loads of options. So take a look at the models you have and try to identify any "special weapons" by comparing with your codex. Usually, a normal squad (say, your blood letters) will all just have one kind of weapon, with maybe a seargeant holding something else (I am not a daemons player, so I'm not certain here, but that's normally what you expect to see).
Once you know that you can calculate how many points each thing is going to cost. Now, with some models (again, we come to your little Prince Charming) you have options that may not necessarily be reflected on the physical model that you can denote with a nice custom paint job. Like let's say I want to give Machiavelli the Daemon Prince a really fancy relic sword of space marine evisceration, I could paint the regular sword you get on the Prince some suitably cool purplish color and model it as such.
As for the specifics, I'm afraid I don't know much more than "anyone who can take wings as an option and fly around definitely should, and daemon armies usually take psychic units that summon more of the regular old daemons to the table." That's the extent of my knowledge of daemon list building.
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