I have used the internal oscillator for Asynch Serial Comms at speeds from 300 to 115200 baud successfully. Some things to look out for. The newer PIC's have better tolerences (those released in the last 2-3 years or so). Operating temperature is the main consideration. Most of my apps have been indoor types at typical room temperatures. If there are wide temperature variations during operation, an external oscillator may be more appropriate. Here are some numbers from a PIC16F690.
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