Rian van der Merwe makes a compelling case for not optimizing for the fewest number of clicks. In the process, he aggregated some in-depth articles on design and UX. Very much worth the read.
I have to say, though, I am not sure this applies to first time user experiences. There is a certain, shall we say, concern or even apprehension that FTUX entails – how will it be? What does it do? Will I like it? Does it load fast enough? Will I get the hang of it quickly or will I despise it for making me feel like an idiot and immediately look for alternatives? —- all of these are clear and present
dangers concerns and as such, should be addressed as early on as possible in the user-engagement process.
In regard to the clicking dilemma – it may very well be that in order to speed up the engagement and get the user safely to the point where they are settled within the application, the clicking should be reduced to the necessary minimum. But this is not done as some attempt to get the user to work less, rather we should get those clicks out of his way as part of his homing process, first and foremost letting him acquaint himself with his surroundings and relax into a new environment.