It looks that most people here missed the point OP was trying to make. Speech skill could be removed, if its effects were distributed between other skills and use charisma. New Vegas already had a lot of that, you often could use skills like science, repair, sneak, guns etc. in conversations. Charisma however was pretty useless. If I'm not mistaken OP thinks, a good solution would be to use charisma + skill in conversation instead of speech.
For example you could convince someone you can hack a terminal, if your science skill was very high and you had at least moderate charisma. If your science skill was only moderate but you had a very high charisma, you could still convince the person (preferably the dialogue would change to indicate characters lack of knowledge about the subject bud a charming personality.) If however your character had a very high skill, but totally low charisma, you would not be able to convince anyone.
This is in indeed more realistic approach than having charisma level of 1 and speech 100 and still be able to convince everyone even though you are supposed to be repulsive.
Yes, it's quite clear that I didn't articulate my point and what you said is pretty much in line with the point I was trying to make.
Let's separate two things: the Speech skill and Speech tests.
In New Vegas, the new spin on speech tests were a great change, moving away from percentages and requiring the user to have a particular SPECIAL, perk, or skill high enough to pass it. However, New Vegas also gave the user two ways to pass it in most cases.
Let's take asking for more money for whatever task for instance. Almost always you could achieve that with either a high barter or high speech. Another example, convincing the bar owner of a plan to snuff out the Powder Gangers in the first town. You could either pass a speech test or sneak test. So while speech was a good standby, you could in many cases get around using it.
Now let's talk about RP:
Does it make sense for someone with a Charisma of 1 to be the most clever, skillfully persuasive talker just because they're speech skill is high? Not at all. If your intelligence is 1, and your science is low (although why would it be?), how could you possibly come up with a plan that involves technical know-how just because you're a good talker? So removing the speech skill doesn't hurt RPing, it actually improves it. Barter becomes much more important (especially if they reducing how easy it is to make a fortune) and Charisma becomes more important to if you place speech test directly dependent on that.
There is another option though that involves keeping the Speech skill and it's returning to the mentality of Fallout 1 and 2 (mind you I'd still like to stay away from percentages), where speech tests can
only be passed with the use of the speech skill. This is an ok option, but I'd still like my first proposal more. Also, I want to point out that I said remove the speech skill to make room for more skills. I want to see
more skills, not less.