I am trying to set up a Taxonomy field which is post specific.
Right now all taxonomy fields only pertain to the global taxonomy.
For example:
You have skills as a taxonomy of users.
But each user's skill can have a level which I would express as a dropdown 1 - Beginner, 2 - Intermediate, 3 - Expert.
Problem is that each user has a level for that taxonomy, it's not the taxonomy that has the level.
I'd like them to be taxonomies and not sub posts, as they need to form relationships and be filterable.
They need to be open, allowing users to add new terms to the taxonomy all the time (IE new skills).
Taxonomies pertain to posts, not users, you cannot create a taxonomy for users.
What you are describing sounds a little like repeating field groups, where users could add a new skill group, which comprised a name field, possibly a description field, and an ability field.
These are a new feature in the Types beta, but are only available to posts, not users.
With users you are limited to the usual array of custom fields (text fields, select dropdowns etc.).
If your users were "posts" (i.e. you created a profile post for each user that they were author of) you would have more options. Is that viable for this project? (I don't have a solution for you, but if that is an option I'll think about how you could take advantage of that.)
Then every user can select a skill and can set a level for that skill.
Obviously if your users are going to be able to add skills you don't want them to have to add the abilities, you will have to automate that whenever a new skill is created.
It is going to require quite a bit of customisation, but I don't see another way to do what you describe.
I think by the time everything goes through development and usability and QA testing etc. it will be April when the final versions of Types and other plugins are released that include Repeating Field Groups, which will be supported in CRED and Views, yes.