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The other most obvious thing is to make sure the elevating wheel is all the way "out", not "in" (or partially in) as when you tilt the blade.
This is what the manual says ->
The saw motor bearings and gear case
have been packed at the factory with
proper lubricant and require no additional
lubrication. The following parts should be
oiled occasionally with SAE no. 20 or no.
30 engine oil.
1. Elevation screw threads. (First clean
with a solvent recommended for gum
and pitch removal).
2. Bearing points in blade guard and miter
Hope that helps, good luck
Cheers! - Jim
All truth passes through three stages: First it is ridiculed. Second, it is violently opposed. Third, it is accepted as being self-evident. - Schopenhauer