No it does not and I'm not all that sure that most users would even want that.  You might be able to setup a new mail filter to extract the attachments to a specific directory though.

I am about to change from Eudora since Qualcomm dumped support and development of this product as an open source project named Penelope under Mozilla Thunderbird.  I would like to know if Pegasus allows for placing embedded and attached files in a separate directory from the mailbox file like Eudora.  This is an interesting feature and I would like to know if it exists now or should I put it on the "wish" list.

 Your feedback and comments would greatly help me in changing this to my default mail program and archiving my Eudora mail data.

Ralph