Not the first by and stretch, but it was the most "ground breaking" and showed what was capable with the newer CGI technologies... James Cameron chose to tackle Titanic only after he saw how much power he had withCGI.
Forget Ed Furlong...any movie that has Bobby Budnick is cool... Terminator 2 is my 3rd favorite movie of all time, right behind Pulp Fiction and Army of Darkness. Forget the groundbreaking special affects for a second. T-2 had great character development and a good storyline. T-2 was also the first R rated movie I ever saw in theaters...at age 13 without my parents! Despite being a parody of T-2, T-3 was awesome. The ending was excellent, and that chase scene with the firetruck and the crane just might be the greatest car chase scene ever.