No, that is not correct:
This however:
presbuteros: elder
Original Word: πρεσβύτερος, α, ον
Part of Speech: Adjective
Transliteration: presbuteros
Phonetic Spelling: (pres-boo'-ter-os)
Short Definition: elder
Definition: elder, usually used as subst.; an elder, a member of the Sanhedrin, an elder of a Christian assembly.
Your definition is deficient since it leaves out: "a ministerial office of the church which continues to this day. In Latin, presbyter; in English, priest."
Let us leave aside for the moment the English term "priest." The Catholic presbyter is the same office as that mentioned in the New Testament. By whatever name you call him, the pastor of your local Catholic church is a presbyter. Returning to the English term by which he is known, in English this became preost/priest and was known as such centuries before the term became conflated with the sacrificial office of hiereus. Since the the common name for this office has never changed the use of the term priest cannot not be objected to as a legitimate translation of presbuteros.