Don't like Mikael bothering Carlotta in Whiterun? Punch his face in, it's easy now because there's no hand to hand skill.
True, you could do that...but my character wouldn't, as she's not the punching type.

So sweet talking it is!
I guess I see Speech (such as it is) in Skyrim as sort of an RP enhancement rather than a proper skill. I don't care about merchant prices, since I've probably got more gold than all the Jarls put together thanks to the way economies work in vanilla TES games. What I enjoy--and the reason my character's speech skill is 40+ at the moment--is being able to use persuade/bribe/intimidate in various situations in quests, rather than just punching a character's face in and moving on. Yeah, I could kill that thief accosting me on the road to Whiterun...but it makes more sense for my PC to bluff her way out of it by intimidating him.
Then again, maybe I've just got PTSD from Oblivion's conversation pie, so anything looks like a good alternative. Even if it is just a random speech skill check.

The one thing I
really miss from Morrowind is the ability to taunt NPCs into attacking you, so you could kill them without getting a bounty for it. That was one of my favorite elements of the Speech skill in MW, especially when doing the Morag Tong quests. Missed it sorely in Oblivion and still miss it in Skyrim.