Limit upload file size

If I am not mistaken, the only thing that limits the size of user uploaded files is the php's upload_max_filesize.

Is there a way I could add some sort of upload limit? This would make a big step forward for using the asset module for user uploads. Would love to see this happen since this is at the moment the only Drupal 5 module that supports both inline images and using views to display images associated with this node.