a. Of the highest excellence; preëminent in quality, size, or estimation. [ 1913 Webster ]
Our only first-rate body of contemporary poetry is the German. M. Arnold. [ 1913 Webster ]
Hermocrates . . . a man of first-rate ability. Jowett (Thucyd). [ 1913 Webster ]
n. (Naut.) A war vessel of the highest grade or the most powerful class. [ 1913 Webster ]
adj.
n. One who is first-rate. [ WordNet 1.5 ]