Thanks Jeff!
It's a nice day to be in the garage, so I've decided to tear into it and try and get it cleaned up and working again.
I asked about oil or grease, as these look like grease fittings, and what's inside there looks like grease as well. Of course, it could just be oiled "dust" as well. I am have a slight problem in that, I would like to open the motor housing, but am unable to get the impeller off the shaft. Is there a secret to this? I don't want to break it, as it looks like pot metal, is this threaded, or just a pressed fit? Some Kroil freed the left handed thread nut and the end of the shaft. I've had plenty of motors apart before (pipe Organ blowers), but this little thing isn't shedding it's secrets readily.
I'm having fun regardless.