hello fellow,
like wat ditzy said, every sem is important as u need to be
consistent throughout your 3 or 4 years with good grades in order
to get honour.
but it is important to get good grades for 1st year as it will be
an extra motivation for u to keep going to maintain As n doing
better. it's something like psycho effects, as for a student who
get Cs or Ds, he will be stick to this grades as he feel satisfied
as a pass is enough for him, whereas via versa.
i heard a rumour that FYP is important as it helps to differiate
class of honour, dunno if tis is true.