If you're a new user it really is 0.04194304 BTC so if you're in a hurry it's far better to mine on another site to get paid much faster.

Plus, any residual fractions of a coin that you have mined on Eligius get paid out usually at the end of the month so you won't lose anything. I know loads of people who have started mining on Eligius who got really annoyed about the 0.04 BTC initial payout threshold that they abandon mining here and now happily mine elsewhere.

Worse still, they then end up ridiculing the Eligius pool and miners merely because they wanted paid promptly for their work

I get a little fed up explaining it sometimes.