Just to give everyone an update on what I have done so far and how it has worked. I have cleaned the outside of the machine with the Simple Green it's better but not great. I have also changed the felt and that really has decreased the odor of the mustiness substantially, I can at least go near the machine without feeling like I can't breathe. It is very evident that this machine has not been cleaned in a very long time there was so much lint in it. I am still in the process of removing it before I start oiling and lubricating anything. If I did it at this point it would just make more of a mess. Airing it out definitely was a good idea too.
I have a question I noticed while I was using the Simple Green that the light seemed to be rattling so I took it apart and there was this small piece of metal near the screw on the cap where the Singer is that fell off, is this something that I can replace or not? Also I noticed that the light looks like it needs to be replaced as it is not real bright sort of dim lighting should I just go ahead and replace the bulb now or wait till she blows out? As I said before I will post pictures of her as soon as I can and of the accessories as well. Thanks to all of you for your recommendations I really do appreciate it.