MimiBug, replacing the oil pad under the machine should remove the old oil smell. Turn your new baby upside down, unscrew the black knob and remove the oil pan. I betcha that old oil pad is the smell culprit. After removing the oil pad wipe the pan down with kerosene to remove all vestiges of old oil and let it dry. Replacement pads are available on the Internet and one of the cheaper fixes. I have made my own using scraps of thin cotton batting using the old pad as a pattern.