Is it necessary to wear the Silver Shroud outfit?

When doing the Silver Shroud quests, is it actually necessary to wear the Silver Shroud costume or can I wear my Power Armor or regular armor?

I know I can't get rid out of the outfit, but I don't see any point in wearing it.


No, but wearing it unlocks the "Speak as Shroud" option in dialogue:

With the Silver Shroud costume...

Whereas any other armor just changes this to "Attack":

...and without it.

Other than that, the "Speak as Shroud" option is liked by some companions. I'm not sure which, but I've personally seen it happen with Paladin Danse (which also exclaims superhero-esque phrases when you attack any of the villains).