Just bought one for my install. Did yours not come with a manual? If not, here it is:
http://www.worldtools.com/manual/bostitch-miiifs.pdf
It doesn't sound like an exact science, just add a few drops of the specified oil now and then.. but I'm no pro so maybe I'm missing something.
Code:
Frequent, but not excessive, lubrication is required for best performance. Use BOSTITCH Air Tool Lubricant, Mobil Velocite #10, or equivalent. Do not use detergent oil or additives as these lubricants will cause accelerated wear to the seals and bumpers in the tool, resulting in poor tool performance and frequent tool maintenance. Only a few drops of oil at a time is necessary. Too much oil will only collect inside the tool and will be noticeable in the exhaust cycle.
COLD WEATHER OPERATION:
For cold weather operation, near and below freezing, the moisture in the air line may freeze and prevent tool operation.
We recommend the use of BOSTITCH winter formula air tool lubricant or permanent antifreeze (ethylene glycol) as a cold weather lubricant.
CAUTION: Do not store tools in a cold weather environment to prevent frost or ice formation on the tools operating valves and mechanisms that could cause tool failure.
NOTE:Some commercial air line drying liquids are harmful to “O”-rings and seals – do not use these low temperature air dryers without checking compatibility.