Don't be so nervous! I grew up on the beach, and I've been eating seafood since I was a kid. Squid guts can be eaten, with the words I do not know how to say, there is a kind of eggs, there is a "cream", can be eaten, but to be cooked in addition to the better flavor. And the black "smoke", has the effect of stomach, according to my father, that thing can also stop the digestive tract minor bleeding. But nowadays, we usually get rid of the black stuff, because it makes our mouths black. Live squid is delicious!