While I would question why someone would sing some of these racist songs, I agree with those who feel they should be in the archive - especially those produced by oppressed minorities as these songs decpict how they saw life in their own experience. We must never forget the circumstances that would produce some of that music.
At the same time, an ongoing open discussion will be the most effective way to root out racism and make the world better for all - both the oppressed and the oppressors. I think this conversation in itself makes the strongest argument for not doing the equivalent of burning books. Be far more afraid of censorship than ignorance.