From this Nano schematic
- The power comes in from the USB connector and goes through a 500mA fuse. So presumably the design is not intended to support > 500mA.
- Then it goes through a diode, which will reduce the USB voltage by the forward voltage drop of the diode.
- Then it goes to the 5V pin
Edit: Added for step 2, I guess the voltage drop could be about 0.35V, so if your wall adaptor is providing 5V the 5V pin will be 4.65V. The datasheet has a graph in fig 3