Hi Binoy,
Yes, you can achieve it using a pipeline. Develop a simple custom pipeline component that will change FILE.ReceivedFileName context property by removing a name extension from it. Then in your send port you can just use %SourceFileName%.out. Allow the pipeline component to be included in both receive and send pipelines. You need the pipeline at one end only, but it will give you more freedom on which side to use it at.
Because you don’t change messages (just passthru) the easiest way of archiving would be just another send port, subscribing everything you’ve received.
Regards,