Destination Folder Variables

Often times, the source files I want to convert are in a folder named:
Newski_LUD_2444_WAV_V4

I would like the converted FLAC files to be in a folder named:
Newski_LUD_FLAC_V4

Is there a way add intelligent destination folder naming? This would save the user some time after converting the files.

The simple way might be to promt the user to choose a destination folder. The source folder could be populated and then the user could just tweak a few characters to get the desired folder name with minimal data entry very quickly.