%ismovie% is a conditional operator and not a standalone operator. It’s correct definition and use is (from the documentation)
%ismovie%<RenamePatternIfTrue,RenamePatternIfFalse> - If recording is a movie rename using True pattern, else rename using False pattern
E.g.:
Recording\%ismovie%<Movies\%showname%,TVShows\%showname%\Season %season%\%showname% - S%season%##E%episode%##>-Converted
Will produce:
Recording\Movies\Star Wars-Converted.<ext>(for a movie)OR
Recording\TVShows\CSI\Season 1\CSI - S01E02-Converted.<ext>(for non movies)
See the documentation page for details:
As for the audio profile, most people cannot tell the difference beyond 128kbps but you can always customize it to your needs.