Overlander,
That's a gorgeous machine. It is not an industrial by any means of the word, but it is a very strong domestic machine.
There is a friction drive pulley on the end of the motor that drives the hand wheel. Check it carefully for flat spots. If it has flat spot(s) it will be noisy as heck. The pulleys can be had from forum member Mizkaki, Sew-Classic and other places. Replacing that drive pulley will quiet that machine down tremendously. Somtimes you can move the little pulley in or out to put a smooth area against the hand wheel.
One thing many of us do is put something between the motor and machine to hold the pulley off the hand wheel when we are not using the machines. This prevents the flat spots.
Joe