I think that what you are asking is if you can switch the configuration of a part or assembly without creating a new part or assembly.
DriveWorks will always create new parts or assemblies of any masters that you have captured. You can change the configuration of the newly created part if you want to but you can't switch a configuration of a part or assembly that you haven't captured.
In DriveWorks Professional and Solo you do have many more options for file naming rules and save locations.
Hope that helps.
You can use the same file and later change the configuration manually in Xpress and higher version but can not have both.