Enjoy your new machine, and try new things, following the manual/instruction book. In the long run you have made a good investment. It does not generally pay to purchase the simplist or plainest model of anything, and with experience in using equipment, one can then buy the "higher" end models at a later time. I have one simple sewing one, with no zigzag, etc, a 1960 Necchi that sews well for basic work, but it is nice to have a "mid-range" machine for more than that.
As for oiling, follow manufactuer's instructions. My Janome 1998 is serviced every two years by a trusted repairman, and oiled then.