Share 'Anyone know Power-tool maintenance?'

I just bought an old Craftsman Radial Arm Saw and want to know what sort of things I should do to prolong its life. It has a ball bearing motor, so i am wondering if I should lube it, should I lube the slide rail and pivots? There is some minor surface rust on the neck, should I hit this with steel wool then lube? What type of lube do you recommend? Pic is attached to my pix here: http://kregjig.…