Welcome to the club. Once you get used to this old machine, you will wonder why anyone buys the new ones. For quilt piecing they cannot be beat. Just keep it clean and oiled, and you will never have to have a repair guy touch it.
Looks like it might need a little tension adjustment, or to loosen the pressure on the pressure foot? Did you clean out the "toe jams" (lint between the feed dogs and around the bobbin race) under the plate yet?