I think it is ok. I don't find it counterintuitive and know directly where to start. I don't know about the older generation. Ask your parents if they could use it with ease and understand it. Imo this form could be usable.
One point of attention would be forgetting what the label was after you started inputting the field. This could mean a very big concern for usability.
I would make sure though to not replace labels with values. Keep the <label for="contform_name">Name</label> and hide it with css with a negative text-indent or something. Place the field value with javascript. That way the form will also be accessible for the handicapped. Don't use design solutions such as these if they make the forms unsemantic or not accessible. Keep a valid structure and a logical key order.