Yes it does. And while you were responding I tried to run the calculation again, this time I typed it out all on one single line instead of a structure format like your example and it is now running (still crunching at 79%, as if it working correctly it will be adding a "1" to approximately 30,000 records) so, at least it didn't error out this time. I'll let you know if it worked. Thanks for your patience.
I'm new to expressions and using the Field Calculator and would appreciate any resources (PDF's or websites) for beginners you can point me to....