Whisk the egg and milk together. Season with salt and pepper. Pour the breadcrumbs into a separate wide bowl. Dip the squid first in the egg mixture, then roll in the breadcrumbs. Allow the coated squid to sit while the oil heats to 375 degrees F. When hot, fry the squid, in batches of 8 - 10 pieces, until light brown. Remove with a slotted spoon to paper towels to drain. Makes 6 - 8 appetizer servings.
Per Serving: 269 Calories (54.5% from fat); 16g Fat (2g Sat, 9g Mono, 5g Poly); 19g Protein; 11g Carbohydrate; trace Dietary Fiber; 278mg Cholesterol; 142mg Sodium. Food Exchanges: 1/2 Grain (Starch); 2 1/2 Lean Meat; 3 Fat.