I'm not researching this family myself, but I think you can answer at least some of your questions about Elizabeth by looking at the 1850 Census.
In 1850 Franklin Co., NC, H/H #575, there is ELIZABETH WOODLY age 21, living with the family of OWEN & SARAH DAVIS. A look at the Granville Co. NC marriages shows that OWEN DAVIS married SARAH W. SMITH with a marriage bond dated January 23, 1833.
There were mostly WOODLIEFs in Franklin & Granville Counties, but there was also an occasional WOODLEY. You might want to check further for Elizabeth's family in Granville since there seems to have been a tie in with that County for the family.