Yeah, it's usually best to let them sort it out. In this case, though, with a declawed cat and a high prey/chase drive dog like a Shepherd, don't leave them unsupervised until you're SURE SURE SURE they're okay together.
Never, ever forget: a Shepherd was bred to chase things, that's its whole purpose in life. Domestic cats get killed every single day by dogs that are bred to chase and hunt smaller animals--and that instinct can take over an otherwise sweet and docile dog in a flash, even when everything seems cool. And your cat's main defensive tool has been amputated. So be totally vigilant.
See <a href="http://www.canismajor.com/dog/dogscats.html">this excellent article</a> on the subject over at <a href="http://www.canismajor.com/dog/index.html">Dog Owner's Guide</a>, a really fantastic resource for all things canine.
Good luck!