Thanks for that.
As with all these things, it probably depends on when and why the street was so named, what the current inhabitants think, and how alive the issue is in public discourse. I didn't know it was named after a slaver - 'Penny' is pretty unidentifiable as a surname compared to, say, Stalin. Most know it from the Beatles, and I bet that in 300 years' people will squabble over whether it was named for the song or not.
Just being reading on
Wikipedia about the dedication speech for the North Carolina statue. Yep, pretty clear in its intentions, and some of the language used is NSFW. The printable bit is:
1913 dedication speech wrote:
"The present generation, I am persuaded, scarcely takes note of what the Confederate soldier meant to the welfare of the Anglo Saxon race during the four years immediately succeeding the war...their courage and steadfastness saved the very life of the Anglo Saxon race in the South."