I'm pretty sure the default is 4 megs, but you can alter the web config for up to 20 megs.
I think it has something to do with the way the control is written, in which it uses server memory to store the upload until it release the stream into a write onto the disk drive and flushes the server memory.
I've seen 3rd party controls that go up to 4 gigs, the must do a partial write to a temp file every couple of megs until it's done.