I don't think any of the long bobbin Singers had reverse stitch, some other brands had this function early on on VS modeles like Gritzner and Pfaff.
You will be surprised at how well the presser and needle bar shines up with the right polish. I used something called Quick-Glo and it worked very well. Some polishes work better on grimy steel, nickle and chrome than others. it looks like pastes tend to be better than liquids.