No,I don't think you want to strip it!! You need to fix it !! If you take the race off (it's held on by 2-screws) there's a screw on the back that holds a u-shaped spring & it holds a ring on,take it all apart & clean it,put it back together & see if the side play is better ,if not you need to buy a new race.Over here they sell for $20.00.Someone has adjusted the needlebar to take a longer needle,if you want the 16x2 to work loosen the set screw on the needlebar & lower it so the needle is just below point of the shuttle point as it passes by the needle as you turn the machine in the direction that it runs.