I guess that it would be a matter of what is meant by "First Contact."
Is it a interaction between two species (this is what I believe), or is a official formal meeting?
Zephram met informally with the Captain of a exploration ship, that was considered "First Contact."
In 'Farpoint, all Picard did is talk to a single individual. Really, there has never been a official meeting between the Q Continum and the United Federation of Planets.