Oiled as Mechman describes is effective. No oiling-points is not a sign of low quality, though providing them would make lubricating the machine slightly easier, if they are better than those inconvenient little sprung-ball things that dot the Myford lathes.
I had to dismantle my second-hand Myford VMC mill to bring it home, and found the ways were oily for their full length. Provided you oil the slides with the travels at full stretch each way, the lubricant soon find its way along them.
I tend to use grease on the milling-machine screws though – oil on lathe lead-screws.