I think 1500 is what it is meant to (default) be but since you are dialing a PPPoE account it takes 8 bits for the Ethernet something or other hence why it is 1492.
I remember reading something like that somewhere. Perhaps someone can confirm this and explain it a bit more in detail?
So you basically start at an MTU 1500 on Ethernet level, then PPPoE takes up 8 bytes, which is why you need to set your MTU to 1492.
You can always go and play around with your computer's MTU sizes instead, because it could be that your computer is sending TCP packets of 1500 bytes, which then gets broken up into one of 1492 bytes and another one of 8 bytes by your ADSL modem...
If you are using VPN the setting might have to adjusted from 1492 even further to cater for the VPN overheads as well. (Usually this can be achieved in the VPN config file)