In my neck of the woods frying catfish is all about simple, usually because it is done directly after catching the fish. No egg washes or milk just shake in a paper bag with cornmeal, black pepper and salt. Fry in peanut oil (very important for that southern fried taste)@ 375 and Drain on paper towels in a large brown paper bag (I really don't no what the paper bag imparts it's just the way it has always been done).
Lately though I have really become enamored with a dish @ my cuz's restaurant called Catfish Leon. It is a char-broiled catfish filet covered in crawdads with a brown butter cajun sauce. Gar-on-teed ta fic wat ails ya!
I haven't tried to do it yet but, grilling catfish filets is become pretty popular around here as well.