Consider Phlebas is more of a literary novel that happens to take place in the future. I like all of Banks' work and thinkSwombat's suggested reading order above is spot on, but I also think Consider Phlebas is by far his best work.
I still haven't been able to make myself finish Matter yet.
The title is awfully well chosen, too. The full title would probably be: "Matter? It doesn't"
EDIT: I should specify that Contact is working on present-day Earth in that story, from what I recall.
Though, obviously, as a literary device you are right.