I forgot a couple of your questions:
1. I use Singer oil. It is a known quality of light machine oil that is pretty cheap. I have used the JoAnn's brand once and don't like the bottle's ability to last and stay closed.
2. The standard Singer needles sold at JoAnn's are made to work with the FW, and most other Singer's. I read the packages and purchase according to the fabrics I am planning to sew. Most often the red tops.
3. As a quilter, I generally sew with 100% cotton sewing thread. The lower the linting the better. I use Masterpiece from Superior Threads for miniatures. It is a thinner strong cotton that reduces the bulk of seams when you press. It is enough to make a difference in miniatures. Both of my FWs required a bit of tension adjustment. top and bobbin, to work with Masterpiece. I have thought about using it exclusively because it is very low linting, but the tension is sometimes tricky. Still considering.
4. Be sure to remove the throat plate and clean there often. That is the worst lint gatherer and can mess with your machine.
I LOVE my FWs and hope you enjoy your new acquisition!