A while back I was having issues with my FW not turning over. I greased the motor and it will turn but very slowly. I took the belt off and the motor spins like a top. I have a rubber belt. I couldn't find a v-belt locally. Now the wheel/needlebar will turn, albeit slowly. There is very light tension on the belt, just enough that it doesn't slip. Should I just go with the v-belt or is there more troubleshooting to be done gear wise? It has been oiled recently and religiously.

If it's a stretchy one size fits all belt, then you need to replace it. They're not good for your motor and will put strain on it and eventually do it harm. Sew Classic carries belts that will be much better for your FW.