Definitely...there is a distinct difference in your diplomacy rating and the price you pay for goods. Even the spell Eagle's Splendor can save you up to 5-10% on goods. Also, certain conversation paths and items will be denied you unless the person with the conversation has very high charisma and the appropriate skill for the encounter...unfortunately it's not always the same so sometimes you need a max bluff or a max intimidate...although diplomacy is the most common and most useful.
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Vae Victus!
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