Calling the constant $c$ the "speed of light" is something of a misnomer. In special relativity, time and space are taken on equal footing. To achieve this in a physical sense, one needs a "conversion factor" between time and space; It turns out that this factor is $c$. Of course, this conversion factor must be the same in all reference frames, otherwise, it would be very hard (if not impossible) to build a consistent theory.
Furthermore it can be shown that a massless particle in the absence of external influences (i.e. the vacuum) will always propagate with speed $c$. As is known, photons are massless particles, and since electromagnetic radiation was the first phenomenon discovered to propagate with speed $c$, the constant was named "speed of light". Of course, the speed of electromagnetic waves can be altered by introducing external influences, so the somewhat cumbersome "in the vacuum" had to be added to the name of the constant. But this does not mean that there is any significance of light per se to this speed. In the vacuum, a gravitational wave also travels with $c$, for example.
You are right about $c$ being the highest speed at which information can propagate. I think from this it should be easy to figure out which part of a light wave (first) propagates with $c$.