[dba-SQLServer] Pointless Indexes?

I've been reading about indexes and bookmark lookups and so on, and
examining the indexes in our database, table by table. I have two general
questions:

1. Is there any point in including a bit column in a compound index, whether
as an indexed column or an included column? Since it can only have two
possible values, it strikes me that there is no point.
2. Similar question: I have a table with about 200K rows in it currently and
an FK in said table with only 6 possible values. Any point in indexing it?

It seems the more I read, the more confused I get :)

TIA,
Arthur