Either one works, but mstrmage's syntax is more concise. I'm far from an expert on this stuff, but your syntax causes 2 expressions to be evaluated. The IsNull function itself returns either true or false; then you're testing whether the boolean returned by IsNull is true or false, i.e. If True = True Then... The net result is the same, and the performance hit for evaluating 2 expressions instead of one is measured in nanoseconds, so in the long run it probably doesn't really matter. For me it's more an issue of staying with good coding practices to avoid problems, and being as concise as possible to get maximum performance.
Also, from the MS Access help files re: your original question:
Important Use the IsNull function to determine whether an expression contains a Null value. Expressions that you might expect to evaluate to True under some circumstances, such as If Var = Null and If Var <> Null, are always False. This is because any expression containing a Null is itself Null and, therefore, False.