I've fallen behind on my reading of this thread so I don't know if anyone has shared this yet. I came across a blog about restoring a Singer 201. This person will be stripping the machine down and doing a complete restoration. I thought there may be some people on this board that would be interested in seeing how she is doing it. Here is the link:
http://mysewingmachineaddiction.blogspot.com/
I don't have a 201 to restore but I have a 66 that could use a makeover.