Prior RFCs stated that the first/last subnets should not be used at all. As of around 2000/2001 the newer RFCs state it is okay to use.
For exam purposes the answer is NO - although newer IOS comes standard with ip subnet-zero in the config. In the past you had to specifically type in that command.
Also in the past, even though the first/last were okay via RFCs - some gear was either bugged if you did it or they'd reject it. That's no longer an issue at all.
MM2000, I'm curious what Network guys worth a damn don't consider the first/last subnet....usuable in most situations.
My '03 Sold.