Without perl multi-line regex capability I don't think you'll be able to simplify it too much... unless you change RS in awk maybe? I might try that next. Here is an awk solution, but as you can see it's not short:

Code:

awk '
        /\/\*.*\*\// { gsub("/\*.*\*/",""); print; next }
        /\/\*/ { gsub("\/\*.*",""); print; incomment=1; next }
        incomment && /\*\// { gsub(".*\*\/",""); incomment=0; print }
        incomment { next }
'

It does not work for situations where there are multiple comments on a line, e.g. the following:

Code:

 some code; /* a comment */ some more code; /*another comment */

would become:

Code:

 some code;