I was able to get a few squirrels last year with a fiberglass recurve and carbon arrows. I used a Zwickey broadhead because I had a blunt bounce off a rabbit, so I don't mess around with anything but a sharp broadhead anymore. They go right through the squirrel and that's it, the squirrel doesn't even know what hit them. I also lost a whole bunch of arrows, including some fluflus, and I love arrows (even my carbon ones) so I look for them for at least an hour and pout the whole day if I can't find them. This year I'm excited to go out with homemade tackle. I'm in the process of making a couple dozen arrows so at least when I'm crying over a lost arrow, I'll have another one nocked on the string.
On an unrelated note, I don't know if you've had squirrel before, but its unbelievably flavorful. I crave it now. I think its the most delicious meat we have available. I would take a squirrel over any cut of beef, pork, chicken, turkey, venison, rabbit, bear, frog legs, anything..