Convert tag(s) to filename/path

Hello --- will the tag -> filename conversion also/can create directories/path for the artist and album title if the template indicates that the artist and (album) title are directories?

Yes.

The "indicator" is a backslash \ between the placeholders.
For details see Mp3tag Help - convert tags from/to filenames
and the examples like
%artist%\%album% '['%year%']'\$num(%track%,2). %title%
which creates
Artist\Album [2010]\01. Title

THanks for the info -- I will check the help for more info