The Loop returns bollocks on a custom template site.

Alrite, so made this wp theme, mkay? It’s neat n’ all, that’s not the problem. I’m fairly certain I’m unaware of some fundamental dynamics, or missed something lame here, none the less: I have a main-page (home) with a custom query for featured blog-entries only – works like it’s supposed to. Then I got some other pages, works fine. Then I applied a custom template to a page called ‘Blog’ in which I applied the loop in it’s purest form:

<?php if (have_posts()) : while (have_posts()) : the_post(); ?>
                    	<h2><a href="<?php the_permalink(); ?>" title="<?php the_title(); ?>"><?php the_title(); ?></a></h2>
                        <small>on <?php the_time('d, M'); ?> in <?php the_category(','); ?> tagged <?php the_tags(); ?> by <?php the_author_posts_link(); ?></small>
                        <?php the_content('Read More'); ?>
                        <div class="seperator biggap"></div>
                        <?php endwhile; ?>
                        	<div id="posts_navigation">
                            <?php previous_posts_link(); ?>
                            <?php next_posts_link(); ?>
                            </div>
                        <?php else : ?>
                        <h2 class="center">Ikke fundet</h2>
                        <p class="center">Vi beklager, men du leder efter noget som ikke er der.</p>
                        <?php include (TEMPLATEPATH . '/searchform.php'); ?>
                   <?php endif; ?>

(don’t mind the Danish nonsense at the else-part. 😉 )

However, when I go to the blog page, only one post shows up, there is no content, and the title is ‘Blog’ instead of what it’s supposed to be. The category, time, tags and author seems to work fine though.

I’m so lost I’d be better off with a gun than a compass.