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3-in-1 oil is not a good choice as it gums up rather quickly. What I would suggest for the ways is to get some "Vactra No. 2" (you can get it in one gallon containers from MSC, though I went for a 5-gallon drum when I got mine, as I have more machines to keep lubed.
The spindle will need something different, and what will depend on the kind of bearings it has. Some of the earlier versions of this lathe use bronze sleeve bearings, with an adjustment screw to make up for wear -- up to a certain point. Newer ones have either ball or roller bearings (I'm not sure which). Each type of bearing will determine what is the proper lube for the spindle. I think that whatever works for the spindle will work well for most other lubrication points other than the ways, which really need a proper way lube, like the "Vactra No. 2" suggested above.
Hopefully, he will bring along the proper lubricants.
I agree. Did your father in law have the piece of bowling alley too, or were you just very lucky in finding that at the right time?
Enjoy, DoN.