Fun with Words

Playing with words is fun. There are, of course, many, many sites that do a great job of treating this topic with finesse and aplomb. However, some things just catch one's eye, don't they? Hopefully, my collection here will whet your appetite for words.
What about the following words makes this a set of similar words?
read, do, row, bass, bow, wound, sow, lead, tear, dove, live, present
If you figured out the puzzle on the left, here's a challenge:
how many other such words can you find?
What do the following words have in common:
decay, enemy, essay, excellency, expediency, ivy?
(Thanks, Marilyn vos Savant)

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