I LOVE calamari & cook it frequently. Believe it or not, our local Wal-Mart carries the really tiny (like 3" long) ones, which are FABULOUS sauteed & added to spicy pasta sauce, cream pasta sauce, or used in Thai & Vietnamese stirfries.
As far as frying them, Mario Batalli did a show where he said they're never batter-dipped in Italy when served fried, but rather just dusted with cornstarch, then fried quickly in olive oil, & served with nothing but squeezes of fresh lemon juice. I've tried this method & it's MUCH better than the battered stuff you get at restaurants.