Squid sauted with red wine and cinnamon is delicious. Sounds strange, but everyone who's tried it loves it. Pretty good grilled with oil and herbs. I also like to stuff them with lobster or shrimp and saute in a light white wine and tomato sauce. I find these squid don't make the best fried calamari, but it's not bad either.
Eat as fresh as possible and clean well. If it smells funky at all after you clean it, it's bait.
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