Yea, the chain is a good place to start. Be sure to wipe the chain clean of all excess oil after you lubricate it. Bearings are unlikely to require any lubrication unless they have been submurged. Lightly lubricate the pivot points on the derailure and put a little lubricant at the orifices of your cables. A little oil goes a long way. Over lubricating just attracts dirt and grit.