There is a limit, however it is not related to a specific transfer rate. This is due to mIRC being a single-threaded application, which means that if DCC Send was allowed to run at full-speed, it would block the user interface. There are several windows message-based features in mIRC that can do this, so mIRC uses various methods to minimize it. This has, of course, been discussed before :-) Looking through
versions.txt, I'm amazed to see that DCC Send/Get was added in 1995, when modem speeds were around 28.8kbps, and went through various implementation changes after that. The first discussion of the internal limit probably came up around the time that someone managed to get a super-fast internet connection many years later. The topic then comes up again periodically when someone tries to transfer a large file. Is it important? I have no idea. My network speed, on a very good day, is around 5MB/s. Should I redesign the entire DCC Send/Get implementation to use threads? Maybe. I usually add features or make changes if I think it will be a fun/interesting challenge. At some point, it may pique my interest :-)