The 1959 rancher in NY that I grew up in had the same. It was a great play area for kids. Be careful about decommissioning them. You might end up with a moisture problem.

Warmer air rises.

Cooler air sinks.

The basement may be VERY cool with no source of heat in the room.

In my childhood home, these basement loops were arranged between the upstairs radiators. If this is the case with this house, because of easy access, it would be a simple thing to install simple pipe in their place or install a separate loop. If you want to see what it will be like down there with no heat, you can wrap them up with something, but make sure what ever you use is not too heavy for the pipes or their support mechanisms.