I wouldn't use it on a machine that doesn't allow access to all the "guts," because like Mary said, there's that danger of filling invisible/unreachable crevices with lint.
I do use compressed air on my vintage machines all the time. It blows the lint away from the underside of the machine, into the cabinet, where it can be vacuumed out, periodically.
I keep meaning to buy one of those vacuum cleaner attachment kits for computers - tiny little cleaning wands to get into tight spots. Bet they'd be perfect for sewing machine maintenance, too.
PS - when I saw your title, I had to smile - "A dusting machine? Who needs a dusting machine?" I wondered, "My furniture collects dust all by itself!" ;)