The sequence and consequences are this:
Social combat can take days - e.g. You go to convince the pries to exorcise the daemon out of the halfling (whether he needs it or not). He says, "come back tomorrow and we will talk again..I have headache today."
Social combat can take through the events of the evening - E.g. the foul bard in the corner is singing nasty songs about the elf's hygienic wash. You know he's in league with the Banditos de Cráneo Negro and is just trying to discredit the elf so the townsfolk don't believe the outsider.
These things could take between encounters throughout the night as the crowd shuffles in and out. By the end of the night it is decided.
Roleplaying actions between each round ACTUALLY SUBTRACT from your chances UNLESS you ACTUALLY have reason to benefit from your "player metagaming speeches" I start everyone out at -2. Then I let ACTUAL evidence gained from roleplaying allow improvements and on top of that "player metagaming speeches" then being to count.
( This was started b/c I have a player who is a great speech giver in real life..but that doesn't mean JACK in my game..just as a person in real life may be a great weight lifter and gifted philosopher, but the numbers on his character sheet don't lie if he's playing a weakling gnome barbarian idiot).
"Player Metagaming Speeches" should be rewarded, but not more than actual useful stuff in character.