So far I've seen that speech raises when you buy and sell without even bartering. That's not a huge issue, but could be improved upon.
The biggest problem is that the speech options have no real effect on the outcome of anything. Oh, this NPC wants to tell me information? I can:
Persuade: for response A
Bribe: for response A
Intimidate: for response A
Follow the rest of the dialogue tree (most likely): for response A
Where is response B, C, and D? In New Vegas we were allowed to have opinions, and those opinions cause the environment to react to us. In Skyrim, there is one destination, with a few paths to get there.
Also, I really liked the fact that your speech had to be a certain level to get certain responses or cause certain things. Playing as character strong in speech and barter was a viable skill in New Vegas as it opened up different ways to complete quests if you wanted. In Skyrim the biggest purpose I've found is the increased prices you get selling goods.
How do most of you feel about the speech skill?