Thank you, Joe
Yes, oil as instructed. You will probably want to clean the bobbin area and maybe behind the face plate. Many of us would take off the tension, bobbin winder and some other parts to clean and polish as needed. Be sure to take pictures as carefully taking apart. The bobbin winder can be kind of tricky as there are springs in them. The tension assembly can also be put back together incorrectly.
It is nice that you have an owner's manual.
In addition to oiling as instructed, I would suggest cleaning the bobbin area. The needle plate is fairly straight forward to remove so you can clean underneath and the feed dogs. Thread properly and test sew.
Janey - Neat people never make the exciting discoveries I do.