I thought I'd add my two cents to the discussion...

According to what my Google toolbar says, Google is showing NO incoming links at all to your website. I did see where you had a links page, but maybe when you didn't reciprocate the links to all those pages they dropped you in return? I certainly would have!
That might be a good explanation why you dropped, instead of it being any kind of meta tag problem.

The way you talked, you don't have but a few reciprocating links. Did you tell those people you would exchange with them?

Another thing that one of the other posters said...and from what I understand is not the case...
If you DO have incoming links, but you don't link back to them, they actually count MORE than regular reciprocating links. Alot of the savvy site owners are now exchanging links and having you link to one of their sites, while linking OUT to you from another site (equal in page rank) so that the one you link to is getting extra benefit. One guy told me that his page rank had increased dramatically when he applied that strategy. I don't do it...mostly because I've worked for months on good recip links...but I have thought about it.

In any case, with your website having NO incoming links that Google recognizes, you won't ever rank for anything. My advice would be to dump your links page and start all over with a legitimate exchange program. Once you get 20 or 30 good links (using your keywords as the link text) you'll be showing again. And remember to make one optimized page for each keyword. Don't mix them up if you can avoid it.

Jan