Yes, HUGE! Never use 3 in 1 on a sewing machine: it gums it up! I occasionally use 3 in 1 Professional High Performance lubricant with PTFE for freeing up stuck bits on rescued machines, but you then have to clean it all off and lubricate with sewing machine oil once you have it moving. The only other lubricant to use is sewing machine motor lubricant/grease, which you use in Fetherweight motors and for lubricating gears in some machines.
Only use oils and grease designed for sewing machines to lubricate them, and clean out any hardened wax-like fossilized gunk FIRST! :) Lubricate the points mentioned in the owner's manual, or in the service manual for that particular machine.