Custom Taxonomy not showing posts

I have been bashing my head against this for… probably at least 8 hours total, I just can’t find anything on Google that will fix this, and I can’t for the life of me find where I screwed up. I disabled all plugins and still nothing.

I but “body_class()” into HTML comments, and it still gives me “tax-skill” and “term-[theterm]” – so something must be going right somewhere, it just refuses to fetch the posts.

Here’s the code for the custom post type and custom taxonomy to go along with it – most of it I grabbed from tutorials here and there, the rest from the codex.

add_action('init', 'portfolio_post_type',0);

function portfolio_post_type() {
	$labels = array(
		// You can alter the text on any of these
		'name' => _x('Portfolio', 'post type general name'),
		'singular_name' => _x('Item', 'post type singular name'),
		'add_new' => _x('Add Item', 'Event Item'),
		'add_new_item' => __('Add New Item'),
		'edit_item' => __('Edit Item'),
		'new_item' => __('New Item'),
		'view_item' => __('View Item Details'),
		'search_items' => __('Search Portfolio Items'),
		'not_found' => __('No portfolio items were found with that criteria'),
		'not_found_in_trash' => __('No portfolio items found in the Trash with that criteria'),
		'view' => __('View Item')
	);

	$args = array(
		'labels' => $labels,
		// We can give our post type a description in case we forget what its for
		'description' => 'This is the holding location for all portfolio items',
		'public' => true,
		'publicly_queryable' => true,
		// To keep in the search, or to not keep in the search. That is the question.
		'exclude_from_search' => true,
		'show_ui' => true,
		'rewrite' => true,
		'hierarchical' => false,
		'menu_position' => null,
		'supports' => array('title', 'editor', 'thumbnail', 'custom-fields', 'revisions')
	);

	register_post_type('portfolio',$args);

	//swiss
	$labels = array(
		'name' => _x('Skills', 'taxonomy general name'),
		'singular_name' => _x('Skill', 'taxonomy singular name'),
		'search_items' => __('Search Skills'),
		'popular_items' => __('Popular Skills'),
		'all_items' => __('All Skills'),
		'parent_item' => null,
		'parent_item_colon' => null,
		'edit_item' => __('Edit Skill'),
		'update_item' => __( 'Update Skill' ),
		'add_new_item' => __( 'Add New Skill' ),
		'new_item_name' => __( 'New Skill Name' ),
		'separate_items_with_commas' => __( 'Separate skills with commas' ),
		'add_or_remove_items' => __( 'Add or remove skills' ),
		'choose_from_most_used' => __( 'Choose from the most used skills' )
	);
	register_taxonomy( 'skill', 'portfolio', array(
		'hierarchical' => false,
		'labels' => $labels, /* NOTICE: the $labels variable here */
		'public' => true,
		'show_ui' => true,
		'query_var' => true,
		'rewrite' => true
	));
	//end swiss
}

My taxonomy.php file is a very simple loop – I have tried removing it to see if the normal archives.php would show posts, but nada. I’m… at the end of my strength on this one. I want to give people the option to see my portfolio pieces in their respective taxonomies, but I really can’t afford to spend more time on this.

Please, help me! Thanks!