inline if else statement (?) for an exported python script

Discussion created by andrew_jw on Feb 3, 2013
Latest reply on Feb 3, 2013 by Dan_Patterson
I am trying to use an inline if - else statement in an exported python script. (Arc10.1, python 2.7) 

Here is sample data:                          
OBJECTID  CODE   TYPE               
1               R       <null>               
2               S       <null>             
3               R       <null>         
4               D       <null>         

What I want:
1              R        River
2              S        Not River
3              R        River
4              D        Not River

possible code that does not work:

import arcpy
arcpy.CalculateField_management("Water_Linear", "TYPE", "'River'" if '!CODE!' == 'R" else "'Not River'", "PYTHON")

I think I have a syntax problem in my expression, but not sure.  Can this be done, or do I have to use code blocks? Does anyone know limits of inline Python 'if' statements?  Can I expand upon 'if'-'else', and add some 'elif' parameters?