I think it would be kind of funny. Might be more interesting to run as a RTD game with mafia elements.
As in, each player has to submit a turn like in a standard RTD, and things are processed from there.
Side thought: Each player's turns are PMed to the mod?
Player1: Ask RVS question to Player 3.
Player2: Attempt gambit on Player 1. (something like this and the following would have to be PMed.)
Player3: Start bandwagon on Player 2.
P1 - (2) - "Player1 asks an awkward RVS question to Player3."
P3 - (5) - "Player3 responds skillfully and makes Player1 look like he was rolefishing!"
P2 - (6) - "Player2 picks up on Player1's rolefishing, and now Player1 looks downright scummy!"
P3 - (3) - "Player3 tries to call Player2 on his gambit, but everyone's attention is still on Player1."
In the spirit of RTDs often going batshit crazy, there should be little structure at the outset. Maybe just a scum team and a town team (with the option of a cult spontaneously forming if someone gets awful/awesome rolls).
Night actions example:
P1 (vanilla town) - Inspect P2 - (1) - PM: "You're not sure about this cop business, but P2 looks like town to you. However, you weren't exactly careful trying to investigate P2, so now everyone is looking at you funny." (P1 is now miller, has negative modifier when defending against suspicion actions)
P2 (vanilla town) - Inspect P3 - (5) - PM: "You never thought about being a cop before, but how hard can it be to rifle through someone's junk to find clues? Apparently not very hard. But P3 leads a pretty boring life, and you don't find anything suspicious." (P2 becomes town cop, gets bonus on further investigative actions?)
P3 (vanilla town) - Kill P1 - (1) - PM: "You've never killed a person before, but all you got to do is stick the pointy end in their soft bits, right? P1 is totally suspicious, so you're doing the town a favor. Unfortunately, breaking and entering is significantly harder, and by the time you get the door open, P1 is ready with a 2x4. You are dead." (P1 becomes PGO)
This is actually kind of amusing me now. I'd consider running something like this if there's interest. Although I think it should more go in the RTD subforum, since it's more like a mafia-flavored RTD.