Yes, there is a thumbscrew underneath to drop the feeddogs. Very easy!
The 201 is known as the quilter's dream machine. I love mine! It's the quietest of all the Singer sewing machines and the stitches are beautiful. The motor on the 201-3 is not the typical potted motor found on 201s made in the USA. It has a belt driven motor, and the light is mounted on the back of the machine instead of the front.
The bobbin is a drop in from the top, and the hook spins twice for every stitch. Because the hook is designed this way, it makes for a very quiet sewing machine.