You cannot calculate the field directly in the code block.
You can reference a field, as in your If statement,
But you cannot change a field, even if it is the one you are calculating.
The code block acts like a function (even though it doesn't use Function tags), and has to return the value it is calculating to the calculation expression. That is why the code block is called Pre-Logic Script Code in the Field calculator: it is executed BEFORE the field is calculated.
As in rfairhur24's example, make the codeblok output a variable:
Output = [Soil_Acreage] * 460
Then put the variable (in thios case, Output) in the expression (in the Field Calculator, it is the box below the code block box. The one headed: Soil_Acreage =
In the python code, the output variable goes in the expression parameter
CalculateField_management (in_table, field, expression, {expression_type}, {code_block})
While the code block (that sets the variable to the value you need) is in the code_block variable.