Get your taxes done using TurboTax

Just was reading through those links. So if I update the W4 for my full time W-2 (taxes withheld) job, then I no longer have to make estimated payments for my 1099 jobs, if I have them take out extra taxes to begin with? Can I still claim 50% of the self-employment tax as a deduction for my 1099 even if the additional taxes technically are withheld from my W-2 job?