IF you mean: "should you use a separate table where each record stores a different value for your value list"?, then this is certainly a viable option. But a list of custom values may also be used and the end result is frequently identical.
There aren't any hard and fast rules for choosing one over the other, just general guidlines. If the values will never need updating and it's a "short" list of values, then a custom value list may well be all that you need. The longer the list of values and the more frequently you need to update the values, the more likely it is that you will be better off using a table of values where you can use data base tools to sort and edit the values used for your value list.
The other consideration is whether you might need such a table for other purposes in addition to using it as a source of values for a value list. For example, if you needed a table of languages and needed to store additional details about each language such as the "language group" of which it is a member (latin, aisan, germanic, etc) then you'll need that table anyways and might as well use it for your value list as well.
Tables of values also enable you to enter an ID number instead of a corresponding name in order to establish a relationship between two tables, And if you should need to set up a conditional value list, where you can selectively display just portions of the complete list, then you will definitely need a table.
Hmmm, but if you are asking if the list of saluations should be in one table and the list of languages should be in a table separate from the salulations table, then yes you almost certainly should have separate tables (or the salutaions could be a custom values list and the languages could be from a table...)
Thanks a lot, this clarifies a lot for me.