Squid with PS4/XBOX and smart TV's on my network

Was wondering if someone could give me a run down here. I am considering installing squid because of the security measure it presents as well as being able to monitor my kids internet activity easily but I am looking to know what trouble I may face with gaming consoles and smart TV's going through them.

Lastly, can someone provide me a checklist of needs for setting it up? I played with it a while back in pfsense 2.2.3 but faced significant obstacles and to tight a funnel to push the internet traffic through.