Wow Jed, that is an amazing restoration of the wash tub!!!!! Porcelain is amazing. It looks like water had sat in that tub for months, possibly more until it all evaporated.
other than to change the oil, why in the WORLD would you want to even so much as open up the mechanism??????????!!!!!!!!
Because by the way it sounds it needs to be properly restored, that mechanism is either totally dry or has some water in it. Proper restoration will make it run well for years to come.