How do you prepare squid tentacles?
No you do not need to remove them, unless you're talking about very large squid.

Good to eat? I prefer the flesh and not the tentacles, but basically anything that isn't what you remove when cleaning (the internal 'bone' and assorted goop attached to it) is fine.

Best method for cooking is very, very fast--squid needs fast nigh heat, usually no more than 40-60 seconds depending on size. Dust with cornstarch and deep fry very fast, or sautee in butter very fast. Too long and you will be chewing rubber.