I'd say yes, probably. There isn't much in it that assumes knowledge of the Culture - we are shown for example that Sma is a representative of this advanced civilization that interferes in other cultures, and that the protagonist is working for them. It's certainly much more newbie friendly than, say, Excession, which would be incomprehensible to a newcomer. (Come to think of it, Excession is pretty incomprehensible to everyone - its chronology is even more complicated than UoW.)
That's not to say that UoW is necessarily the bestbest place to staystart. I'd recommend Player of Games, although that is less obviously "literary" so I understand why you want your bookclub to read UoWUoW.