Fried eel is pretty damned tasty, but they are a bit of a bugger to skin. They also make great crab bait and we live line them for stripers (the little sand eels) later in the summer. Stick em in a bucket of ice, it makes em less fussy and easier to hook up.
The blood of most eels is, in fact, toxic, but... cooking and digesting them kills any toxins, so as long as they are cooked, you can safely eat em.
Awesome! I eat the eel served in sushi rolls or over rice, but didn't know if the ones caught around here were the same edible ones...they are very tasty