|Just a few tips...|
1 - This is not "conditional formatting". Conditional Formatting is a specific feature found under the Format menu that will allows for the formatting of cells based on specific conditions.
Converting units of measure is not the same thing as formatting a cell. Bold, Fill Colors, Font Colors, etc. are examples of what can be done with Conditional Formatting.
2 - What you called a "conditional formula" is more commonly known as an "IF statement", more specifically in this case, a "Nested IF".
3 - You shouldn't use double-quotes around a number in a formula. The double-quotes tells Excel that whatever is in between the quotes is text.
In this case, because you are performing a mathematical operation on a numerical text value, Excel will convert the text to a number first, but that is inefficient and could cause unwanted results in certain circumstances.