Sluggish pinch-roller syndrom
If you have the back panel off and look to the left of the fly-wheel you will find a bracket that goes across the fly-wheel assembly.( see photo)
If you take the wire-loom off and that phillips screw, you find a outer and inner sleeve.
Use light machine oil like sewingmachine oil or gun-oil and use 2-3 drops.
Heat the outer sleeve with a soldering iron (30 watts) and engage the pinch-roller by hand up and down until there is no hesitations in the movement.
Be careful so you don't burn any cables etc when doing this.
Afterwards put a few drops on the tape lifter linkage pivot points (also from the backside) they are close to the base and can easy be found when you lift the pinch-roller up, a two man operation make it simple for you.
After the pinch-roller moves easy, put the phillips screw back but don't tighten it too much, just snug it.
Of course unplug the unit before doing this "surgery" and leave the solenoid as it is, don't try adjust or oil.
Plug it back in and enjoy some sweet tunes.
Good Luck and Happy Holidays
Photo 3340 S Service Manual