<?php if (function_exists('the_tags')) { ?>
<?php } ?>
goes right after <div class="entry-content"> to display tags for current post. I haven’t implemented it here yet, but it’s working on my test blog. I also edited out the conditional statement to make the tags only showup on single post pages, by deleting the if is_single() and changing the elseif to if. I had to correct the curly brackets, too.
Props to Rich Gilchrest for the inspiration.