I hope you don't have to let it go. For a 301 I would replace what needs to be replaced and go from there. Hope you get it running properly.
On Saturday, I was sewing on my FW and sewed two long seams putting the binding on a quilt before I realized it was nesting on the bobbin side of things. After playing the rip-it theme, I slightly adjusted the tension, sewed a few inches and everything was set to go. I sewed the rest of the quilt binding on without a problem. Not sure if this is helpful or not.