There is info on the Vintage Sewing Machine Shop for an all out spa treatment however your machine appears to be able to move. I don't see excessive amounts of rust or dried on 3-in1 oil on it. Since I doubt if you want to strip it down to repaint it, you might look for information on the VSMS for a more simple clean up - the machine is a bit different from yours, however if you have a manual you can figure out what you need to do to it in case some info doesn't quite match up. Here is a link to a link to Muv's video - she does a wonderful job of showing how to gently clean up a vintage machine.
http://www.quiltingboard.com/t-155695-1.htm I like her video many times a machine will clean up just fine with the info she is showing. She has 9 videos on Utube - all are good.