You should oil wherever metal rubs on metal. The take-up area has a few joints that need oiling. You can oil these through the slit in the front.
Frequently, on the 1008, thread gets caught in the take-up lever, and needs to be cleaned out.
You should remove the bottom, back of the machine (behind the free-arm). It gets pretty messy down there. There's a belt that gets a lot of lint in it that should be cleaned out. And the pulley should get a little oil.