What happens if i delete eveything except first block ?
Then you will have to wait several hours for Bitcoin-Qt to re-sync by re-downloading them all. Then they will all be back using up the same amount of space all over again.
If you don't want to store the entire blockchain, then you don't want to use Bitcoin-Qt.
Consider using one of the lightweight wallets:
blockchain.info has the ability to create a wallet from your existing wallet.dat file. Just use this link:
https://blockchain.info/wallet/import-walletIf you decide to use Electrum or MultiBit, you can just send your bitcoins from Bitcoin-Qt to your new wallet once you have it installed and have your new bitcoin address.
If you want to continue to use some of the addresses that you are already using from Bitcoin-Qt, then you'll need to search/read about importing private keys into whichever wallet you choose.