Yes, you wouldn't count the CO as a row, no matter which one. You knit on the knitted CO, but no one counts that as a row. I know many instructions for the LT say that you've `knitted' your first row, but it only looks like that until you've done a few rows. Then the knit row look sort of disappears and it's not the same size as a regular row anyway. Some knitters do start with a WS row if they do the LT CO, but most just start with the RS row the way a pattern is written.