Validating animal pain models is crucial to enhancing translational research and response to pharmacological treatment. This study investigated the effects of a calibrated slight exercise protocol alone or combined with multimodal analgesia on sensory sensitivity, neuroproteomics, and joint structural components in the MI-RAT model. Joint instability was induced surgically on day (D) 0 in female rats (N = 48) distributed into sedentary–placebo, exercise–placebo, sedentary–positive analgesic (PA), and exercise–PA groups. Daily analgesic treatment (D3–D56) included pregabalin and carprofen. Quantitative sensory testing was achieved temporally (D–1, D7, D21, D56), while cartilage alteration (modified Mankin’s score (mMs)) and targeted spinal pain neuropeptide were quantified upon sacrifice. Compared with the sedentary–placebo (presenting allodynia from D7), the exercise–placebo group showed an increase in sensitivity threshold (p < 0.04 on D7, D21, and D56). PA treatment was efficient on D56 (p = 0.001) and presented a synergic anti-allodynic effect with exercise from D21 to D56 (p < 0.0001). Histological assessment demonstrated a detrimental influence of exercise (mMs = 33.3%) compared with sedentary counterparts (mMs = 12.0%; p < 0.001), with more mature transformations. Spinal neuropeptide concentration was correlated with sensory sensitization and modulation sites (inflammation and endogenous inhibitory control) of the forced mobility effect. The surgical MI-RAT OA model coupled with calibrated slight exercise demonstrated face and predictive validity, an assurance of higher clinical translatability.