I began by cleaning according to Muv's info and Glenn's tutorial:
http://www.quiltingboard.com/vintage...v-t167789.html
Muv has many videos and she has a web page with lots of info on using the old machines.
Glenn is a genus with the old machines and repairing their condition. He has been coaching me through my Singer 27. Here are some links for more info:
http://www.quiltingboard.com/vintage...s-t193635.html
and
http://www.quiltingboard.com/vintage...r-t235747.html
I will post some more pictures of the progress I have made on my machine and you can post yours here as you go along. I am using another machine in bad shape to supply parts for my machine. The parts it is missing seem to be different parts than the other one is missing so I am in good shape. You may be able to order a tension spring, bobbins and rubber parts locally some where. You will need a bobbin winder from another machine though.